Monday , November 23 2020

Industrial production falls for the sixth consecutive month, according to FIEL



Industry continues to pass through the recession period. The instability of prices, the reduction of expenditures and the general consumption and economic difficulties are some of the reasons for the narrowing of the factory activities. And there is no sign of reversing this situation in the coming months.

This regression can be seen in the final report of the FIEL foundation. In October of the same year, industrial production decreased by 3.6 percent compared to the same period of 2017. This was the sixth consecutive increase, and so far this year has fallen by 1.9%.

In the month, 7 activity declined. Emphasize the decline of automotive production, metalworking, non-metallic minerals, chemicals and plastics.

Industrial production in September increased 3.2%, including seasonal factors. These adjusted activities showed a slight decrease by 0.3%.

"Although the seasonally adjusted activity shrank in September and October, it is more moderate than in the previous months, there is no sign that the phase will be reversed in the coming months," he said.

sectors

In the first ten months of the year and compared to the same period of 2017, the steel industry continues to lead industrial growth with an increase of 9.8%.

Automotive production increased by 4% in January-October period compared to the previous year. Both cases were followed by non-metallic minerals and paper and cellulose production, showing an increase of 0.5% and food and beverage production (0.2%).

The production of textile inputs decreased by 1.5% between January and October, compared to the same period of 2017. And non-shipments fell by 1.9%.

"Other branches of activity show a deeper decline than the sector average. The document shows that starting from the processing of oil (5.5%), chemical and plastic inputs (5.9%) and the metal processing complex have accumulated a decline of 8%.


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