Q3 industrial turnover up & manufacturing new orders drop
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The National Statistics Office issued figures today has issued data today showing that the total industrial turnover went up marginally by 0.2 per cent to 123.4 points in the third quarter of 2011, primarily as a result of an increase of 4.6 and 5.6 per cent in energy and capital goods.
Offsetting this rise was a drop of 4.6 per cent in turnover for intermediate goods, which comprise 44.0 per cent of the total industrial turnover. Furthermore, turnover in consumer goods decreased by 0.6 per cent, mainly on account of a drop of 0.5 per cent in non-durable consumer goods, while durable consumer goods fell by 3.0 per cent.
Domestic industrial turnover increased by 3.4 per cent, mainly on account of an increase in energy of 4.6 per cent. This increase was partially mitigated by a drop in intermediate goods and consumer goods of 0.5 and 0.6 per cent respectively. On the other hand, non-domestic industrial turnover declined by 2.8 per cent, mainly on account of a 6.0 per cent decrease for intermediate goods. On the other hand, capital and consumer goods rose by 3.3 and 2.0 per cent respectively.
In the third quarter of 2011, new orders for manufacturing industries declined by 6.6 per cent over the corresponding quarter of 2010. This was mainly attributable to a decrease of 7.8 and 13.6 per cent in respect of new orders for intermediate and consumer goods respectively. On the other hand, new orders for capital goods rose by 10.6 per cent.
Domestic manufacturing new orders decreased by 17.1 per cent mainly on account of a 24.8 and 26.8 per cent drop in intermediate and consumer goods respectively, while new orders for capital goods advanced by 14.5 per cent. Similarly, non-domestic new orders retracted by 2.8 per cent, primarily as a result of a 6.9 and 10.3 per cent drop in new orders for intermediate and consumer goods respectively. In contrast, new orders for capital goods in this market rose by 11.9 per cent.
Industrial employment in the third quarter of 2011 increased by 1.1 per cent when compared to the corresponding quarter of 2010. This was due to an increase in employment for intermediate and capital goods of 0.9 and 7.2 per cent, although employment in energy and consumer goods decreased by 1.8 and 0.3 per cent respectively.
The gross wages and salaries index for the quarter under review increased by 8.4 per cent to stand at 97.6 points, reflecting an increase in gross wages and salaries for nearly all the main industrial groupings, particularly in energy and capital goods, which rose by 23.4 and 13.7 per cent respectively. A decrease in gross wages and salaries was recorded in the durable consumer goods sector by 3.5 per cent.
Furthermore, hours worked increased by 1.0 per cent, reflected in a rise in hours worked in the intermediate and capital goods sectors by 3.1 and 2.6 per cent respectively. Hours worked in energy and in the consumer goods sector fell by 1.8 and 0.8 respectively.