Modest Annual Increase in Industrial Production

In October 2020, the volume of industrial production grew by 0.6% year-on-year according to crude data. Based on working-day adjusted data production rose by 2.7%. The growth was 2.8% compared to the previous month according to seasonally and working-day adjusted data.

The Central Statistical Office's report also says that industrial output in October this year – according to seasonally and working-day adjusted indices – was 2.8% above the level of the previous month, and it grew by 66% compared to the nadir of April.

The volume of industrial export was above the previous year’s level by 1.0%. Transport equipment export, representing a 38% weight within export sales in manufacturing rose by 1.5%, while the export in manufacture of computer, electronic and optical products accounting for a 17% weight grew by 4.7%.

Industrial domestic sales declined by 3.1%, domestic sales in manufacturing were 6.4% lower compared to the same month of the previous year.

Within industry, production increased by 1.2% in the decisive weight (96%) representing manufacturing, while it fell by 34% in the small weight representing mining and quarrying. The output of energy industry (electricity, gas, steam and air-conditioning supply) rose by 5.8%.