Index of industrial production, December 2002

According to the seasonally adjusted figures, manufacturing output has decreased by 3.7 per cent from November to December, following a 0.6 per cent decline from September to October and a 1.2 per cent decline from October to November.

Capital goods: Hard times for fabricated metal products

Among the capital goods, fabricated metal products and machinery and equipment n.e.c have declined continuously for the last three months. The declines are 1.2 per cent from September to October and 1.8 per cent and from October to November and 3.1 per cent from November to December. The corresponding figures for machinery and equipment n.e.c. output are 0.4 and 1.6 and 1.1.

Oil platforms and modules output continues falling. The decrease from November to December was 2.8 per cent following the 2.7 per cent decrease from October to November.

Intermediate goods: Less wood and wood products

Despite of an upturn from October to November wood and wood products output has fallen by 3.6 per cent from November to December 2002. Refined petroleum products and chemicals and chemical products output has fallen by 2.0 per cent.

Consumer goods: Continuing fall for publishing, printing and reproduction

Among the non-durable consumer goods, publishing, printing, reproduction output continuous falling and from November to December the output decreased by 3.8 per cent. Food products, beverages and tobacco output continues falling, but weakly from November to December. Among the durable consumer goods, furniture, other manufacturing and recycling output has fallen by 2.8 per cent following the strong fall from October to November.

Production down 0.6 per cent from 2001 to 2002

According to the weekly-adjusted figures, the manufacturing output for 2002 is 0.6 per cent less than 2001. While the intermediate goods output decreased by 1.1 per cent and the consumer goods output in total declined by 1.7 per cent, the capital goods industry managed to produce 1.3 per cent more in 2002 than in 2001. The reduction in non-durable consumer goods output is 1.5 per cent while the output for durable consumer goods was reduced by 1.5 per cent.