Industrial production down 5.1% in Q2

The producer price index also fell 1.3% during the quarter.

The index of industrial production for manufacturing industries decreased by 5.1% YoY in Q2 compared with a year earlier, to extend the 4.6% YoY in Q1, according to data from the Census & Statistics Department (C&SD).

The corresponding producer price index increased by 1.3% YoY in Q2, following a year-on-year increase of 1.3% YoY in Q1.

The index of industrial production for sewerage, waste management and remediation activities fell by 2.4% YoY during the quarter, against a 1.1% YoY rise in the first quarter. The corresponding producer price index also shrunk by 1.3%, slightly slower than the 3.6% contraction recorded in Q1.

Declines in output volume were recorded mainly in the food, beverages and tobacco industry (-11.5%); the paper products, printing and reproduction of recorded media industry (-4.7%); and the textiles and wearing apparel industry (-4.5%).

In contrast, an increase in output volume was recorded in the metal, computer, electronic and optical products, machinery and equipment industry (+4.1%).

Compared to Q2 2019, increases in producer prices were recorded mainly in the metal, computer, electronic and optical products, machinery and equipment industry (+1.7%); and the food, beverages and tobacco industry (+1.2%).

On the other hand, decreases in producer prices were recorded in the paper products, printing and reproduction of recorded media industry (-1.8%); and the textiles and wearing apparel industry (-1.2%).