Tuesday , January 19 2021

By the end of September, industrial production grew by 4.1 percent

Industrial production this year rose 4.1 percent in the first nine months of this year, according to the National Institute of Statistics on Monday. Growth was mainly attributed to the manufacturing industry, whose efficiency grew by 5 percent. According to seasonally adjusted and calendar value, growth was 5.5 percent.

In September industrial production rose by 0.5 percent as raw data. Turnover in industry grew by 12.9 percent in the first three quarters and by 8.1 percent in September compared to last year's ninth month. Also on Monday, the Institute of Statistics announced that new industrial orders in the first three quarters rose 16.3 percent over the same period last year. In September, growth was 9.7 percent compared to the same period last year.

The government officially still expects 5.5 percent growth in economic growth, but the government's economic forecasting committee has reduced the expected GDP growth from 5.5 percent to 4.5 percent in autumn forecasted Friday, with an increase of over 6 percent earlier . The European Commission has drastically reduced expectations for economic growth this Thursday, expecting GDP growth of 3.6 percent instead of 4.5 percent previously reported.

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