Industrial output index records annual decrease in April of 3.8%

Industrial output index recorded an annual decrease in April of 3.8%, according to CySTAT. 

In a press release, it says that the Index of Industrial Output Prices for April 2024 reached 121,6 units (base 2021=100), recording an increase of 0.1% compared to March 2024. Compared to the corresponding month of the previous year, the index recorded a decrease of 3.8%. For the period January-April 2024, the index showed a decrease of 3.6% compared to the corresponding period of 2023.

In April 2024 compared to March 2024, the index remained stable in the sectors of mining and quarrying and electricity supply, while it showed an increase in the sectors of water supply and materials recovery by 2.3% and manufacturing by 0.1%.

Compared to the corresponding month of the previous year, an increase was recorded in the sectors of mining and quarrying (1,.1%) and a decrease in the sectors of electricity supply by 15.3%, water supply and materials recovery by 3.8% and manufacturing by 0.6%.

By division of economic activity in manufacturing, in April 2024 compared to the corresponding month of the previous year, increases were recorded in the manufacture of furniture, other manufacturing and repair and installation of machinery and equipment (4.0%), the manufacture of refined petroleum products, chemicals and chemical products and pharmaceutical products and preparations (2.6%), the manufacture of electronic and optical products and electrical equipment (2.2%) and the manufacture of textiles, wearing apparel and leather products (1.0%), while a decrease was recorded in the manufacture of basic metals and fabricated metal products (-7.8%), the manufacture of paper and paper products and printing (-3.6%) and the manufacture of rubber and plastic products (-2.5%).

(Source: CNA)