Industrial production decelerates 6.5% on a monthly basis

The sold production of industrial enterprises increased by 7.6 percent y/y in July 2022, the Central Statistical Office (GUS) said. Monthly, there was a decline of 6.5 percent. The market consensus was for industrial production to increase by 7.8 percent y/y.

"Most of the major industrial groupings saw annualized output growth in July. The production of capital goods increased by 13.4 percent, energy-related goods by 11 percent, non-durable consumer goods by 9.3 percent, and supply goods by 5 percent, while the production of durable consumer goods decreased by 7.3 percent," the release reads.

In January-July this year, industrial production sold was 12.9 percent higher compared to the same period last year, when an increase of 17 percent was recorded, the GUS also reported.

(forsal)