Industrial production pips expectations

Sold industrial production rose in monthly terms by 7.6 percent (against an expected increase of 6.7 percent). Production at construction enterprises fell by 2.5 percent y/y (against an expected increase of 3.6 percent).

Compared to June 2014, increases in sold production were reported in 29 (out of 34) industrial sectors, including in manufacturing of electrical equipment by 25.1 percent, machinery and equipment by 16.3 percent, furniture by 15.2 percent, manufacture of rubber and plastic products by 12.0 percent, manufacture of basic metals by 10.7 percent, motor vehicles, trailers and semi-trailers by 9.5 percent, coke and refined petroleum products by 8.6 percent and chemicals and chemical products by 8.6 percent, GUS said in a press release.

Year-on-year drops in sold industrial production were noted in five sectors, including the production and supply of electricity, gas, steam and air conditioning by 7.4 percent, in manufacture of beverages by 5.4 percent, GUS also reported. (jh)

Source: PAP