Manufacturing turnover witnessed 4.6% decrease in May
Latest data compiled by the Central Statistical Bureau show that compared to April manufacturing turnover1 in May 2015 according to seasonally adjusted data (at current prices) decreased by 4.6%. Drop was recorded both – in domestic market – of 3.7%, and in export – of 5.5% (of which in Eurozone – of 8.4%, and in Non-eurozone – of 3.8%).
The greatest drop was observed in manufacture of other transport equipment (building of ships and boats, manufacture of railway locomotives and rolling stock), in repair and installation of machinery and equipment – of 24.2%, in manufacture of chemicals and chemical products – of 21.4%. Drop was also recorded in sectors having the largest share in industrial production: in wood processing – of 6.3%, in manufacture of fabricated metal products, except machinery and equipment – of 2.7%, and in manufacture of food products – of 0.1%.
In turn, as compared to the previous month growth was recorded in manufacture of textiles – of 1.9%, in manufacture of paper and paper products – of 0.6%, in manufacture of machinery and equipment – of 0.5%, in printing and reproduction of recorded media – of 0.3%, as well as in manufacture of basic metals.
Compared to May 2014 manufacturing turnover in May 2015 according to calendar adjusted data decreased by 2%. It was mainly influenced by drop in domestic market of 7.8%; in turn, export witnessed growth of 5.3% (of which in Eurozone growth of 20.9%, and in Non-eurozone – decline of 3.3%).
Changes in turnover of selected manufacturing sectors in May 2015, as % of May 2014 (calendar adjusted data)
More information on seasonally adjusted, calendar adjusted and non-adjusted industrial production turnover indices is available in the CSB database section Industry.
1Industrial Turnover Index characterises monthly changes in demand for industrial goods and services on the market. It is calculated as a non-deflated (at current prices,not excluding the effect of prices) weighted index, using industrial turnover in breakdown in domestic market and exports as the weights. Unlike industrial goods that also include unfinished goods and goods in stock, turnover only includes the goods sold and industrial services provided.
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