Industrial production registered a decline in May of this year, falling by 2 percent when compared to the corresponding period last year. Furthermore, for the cumulative period spanning January through May of this year, the overall industrial output decreased by 0.3 percent year-over-year. According to the State Statistical Office, sectoral analysis for May showed varied performance.
The electricity, gas, steam, and air conditioning supply sector was a notable contributor to growth, reporting an increase of 6.1 percent compared to May of the previous year. Gains were also observed in Mining and quarrying, which increased by 3.6 percent, and in Manufacturing, which saw a rise of 2.6 percent. Despite these positive sectoral movements, the overall contraction in May was influenced by declines in specific manufacturing segments.
The primary factors contributing to the reduction in industrial output involved the production of electrical equipment, which dropped by 7.8 percent. Additionally, production of machinery and equipment, classified elsewhere, also contributed to the overall negative trend when comparing May of this year to May of the preceding year. These figures provide a detailed look at the fluctuations across key sectors during the reporting period.
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