Manufacturing Sector Impacted, Overall Industrial Production Slowed By 2.2%

 Posted on: Jul-2020 |  By: Reports Buzz | Machinery and Tools

In the manufacturing and mining sector, due to the decline in production of consumer products, the growth in industrial production declined to 2.2% in October. This is the minimum level of industrial production increase in last three months.

According to the figures released by the Central Statistics Office today, industrial production growth was 4.2% in October last year. In September this year, the index of industrial production increased by 4.14%.

During the seven-month period of April–October of the current year, industrial production growth has increased to just 2.5%. Industrial growth during the corresponding period of last year was 5.5%.

According to official data, production of manufacturing sector increased by 2.5 % in October this year compared to 4% in the same month of last year. During the seven months of April–October 2017–18, the manufacturing sector could achieve an increase of 2.1% in the current year, compared to 5.9% in the corresponding period of last year.

In October, the consumer goods industry saw a decline of 6.9%. In the previous year, there was an increase of 1.5% in this area. In the first seven months of this year, the segment has declined by 1.9%. In the same period of last year, this industry was up by 6%.

The growth rate of activities of the mining sector was 1% in October last year. In comparison, the mining sector shrank by 0.2 % this October.

In October 2017, the growth of the primary goods industry was 2.5%, 6.8% of the capital goods sector, 0.2% of the secondary product industry, and the growth of structural and construction industry was 5.2%.

Output of the industries of other manufacturing industries fell by 36.4% in October. This was followed by a decline of 16.1% in the tobacco production sector and 20.9% in the rubber and plastic products sector.