March’s industrial production down by 4.5% on last year

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March's industrial production down by 4.5% on last yearProvisional seasonally adjusted data show that in March, compared to last year, working-day adjusted industrial production fell by 4.5 per cent.

Compared with the previous month, the index of industrial production increased by 1.8 per cent to 100.3 points in March. This was attributed to the increase in the production of intermediate goods and consumer goods by 4.6 and 1.0 per cent respectively. On the other hand, the production of energy and capital goods decreased by 2.2 and 0.3 per cent respectively.

When compared with the corresponding month last year, the index of industrial production decreased by 4.5 per cent. This was due to a 13.3 per cent drop in the production of intermediate goods. However, the decrease in the total industrial production index was mitigated by an increase in the production of energy, capital goods and consumer goods. These industrial groupings went up by 0.8, 3.9 and 2.3 per cent respectively.

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