Economy
19:44 21 May 2020
Post by: WBJ

Industrial production in April down by 24.6% y/y

Industrial production in April down by 24.6% y/y
Source: Piqsels

Industrial production fell by 24.6 percent y/y in April, and compared to the previous month fell by 25.5 percent, reported the Central Statistical Office (GUS).

Analysts surveyed by PAP Biznes expected a drop in production by 10.0 percent m/m in April and a decline by 11.2 percent  y/y.

"As a justification for the decrease in sold production, some respondents pointed to a decrease in the number of orders in connection with COVID-19," the GUS stated.

This mainly applies to industries such as the production of metal products, rubber and plastic products, coke and refined petroleum products, motor vehicles, trailers and semi-trailers, and furniture production.

The GUS added that other reasons more frequently indicated by the respondents were: a change in the number of employees' full-time jobs and employees staying "at a standstill".

(PAP1, PAP2

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industry
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