Manufacturing output up 1.6% y/y in August

12th October 2023 By: Creamer Media Reporter

Manufacturing production increased by 1.6% year-on-year in August, with the largest positive contributions made by the petroleum, chemical products, rubber and plastic products; and basic iron and steel, non-ferrous metal products, metal products and machinery sectors.

Seasonally adjusted manufacturing production increased by 0.5% month-on-month in August. This followed month-on-month changes of -1.7% in July and 1.1% in June.

Seasonally adjusted manufacturing production decreased by 0.4% in the three months ended August, compared with the previous three months. Four of the ten manufacturing divisions reported negative growth rates over this period.

The largest negative contributions were made by the food and beverage and petroleum, chemical products, rubber and plastic products divisions.

Seasonally adjusted manufacturing sales increased by 2.5% in August, compared with July. This followed month-on-month changes of 1.4% in July and -0.2% in June.

Seasonally adjusted manufacturing sales decreased by 0.4% in the three months ended August, compared with the previous three months. The largest contribution was made by the food and beverages division.