Industrial output dropps 1.6 pct as gross series in January-August 2019 (INS)

Industrial output dropped 1.6 per cent in the first eight months of this year, as gross series, and 1.9 per cent, as adjusted series depending on the number of business days and seasonality, against the same period of 2018, according to data released on Monday by the National Institute of Statistics (INS). 

Thus, industrial output (gross series) dropped 1.6 per cent in January 1 - August 31 2019, compared with the same interval a year before, due to drops recorded in the drilling industry (-2.4 per cent), output and supply of electricity and heat, gas, hot water and air conditioning (-2.2 per cent) and the processing industry (-1.5 per cent). 

Industrial output, as series adjusted depending on the number of business days and seasonality, went down 1.9 per cent in the reference period, as a result of drops recorded in the drilling industry (-2.4 per cent), production and supply of electricity and heat, gas, hot water and air conditioning (-2.2 per cent) and the processing industry (-1.2 per cent). 

According to INS, in August 2019, industrial output (gross series) went down from the previous month by 12.8 per cent, because of drops recorded in three industrial sectors: processing industry (-14.8 per cent), drilling industry (-2.9 per cent) and production and supply of electricity and heat, gas, hot water and air conditioning (-2.1 per cent). 

Industrial output, as adjusted series depending on the number of business days and seasonality, increased from the previous month by 0.1 per cent. The processing industry increased by 1.1 per cent, while the drilling industry and production and supply of electricity and heat, gas, hot water and air conditioning went down 4.1pct and 1.5pct, respectively. 

According to the INS data, industrial output (gross series) dropped 7.0 per cent from the same month a year before, due to drops recorded in the drilling industry and also in the production and supply of electricity and heat, gas, hot water and air conditioning (-9.0 per cent) and the processing industry (-6.6 per cent). 

Moreover, industrial output, as adjusted series depending on the number of business days and seasonality, dropped 6.7 per cent, due to drops recorded in three industrial sectors: drilling industry (-8.5 per cent), production and supply of electricity and heat, gas, hot water and air conditioning (-7.9 per cent) and the processing industry (-4.1 per cent).