- Monthly production output fell by 0.6% between January 2022 and February 2022, reaching a level that was 1.9% below February 2020 (the last month of “normal” trading conditions prior to the coronavirus (COVID-19) pandemic).
- The monthly fall in output resulted from weakness in all four production sectors, with manufacturing falling by 0.4%, mining and quarrying by 3.2%, electricity and gas by 0.6%, and water supply and sewerage by 0.4%.
- Manufacturing saw 7 of the 13 sub-sectors negatively contribute to growth during February; most notably, manufacturing of transport equipment fell by 5.4% and manufacturing of chemicals and chemical products fell by 5.0%.
- Manufacturing’s negative growth was partially offset by manufacturing of basic pharmaceutical products and manufacturing of basic metals and metal products, which rose by 9.8% and 3.2%, respectively.
- Output remained below the February 2020 pre-coronavirus pandemic levels in three of the four production sectors; monthly manufacturing output remained 0.7% below, mining and quarrying was 18.6% below, and electricity and gas was 6.6% below, while water supply and sewerage was 7.2% above.
- For the three months to February 2022, production output increased by 1.0% compared with the three months to November 2021; rises of 1.7% in manufacturing, 1.7% in water supply and sewerage, and 0.1% in electricity and gas were partially offset by a fall of 6.6% in mining and quarrying.
- Manufacture of basic metals and metal products rose by 4.7%, mainly because of strength from the fabricated metal products excluding weapons and ammunition industry; this was the most notable increase in manufacturing for the three months to February 2022 compared with the three months to November 2021.
ⓘ Some contents provide links to third-party news and current events as a convenience to you.
We have not reviewed and don't endorse the
contents of these sites. Please always
do your own research. Mira FX does not endorse any companies, products or services which are represented on this article.
Mira FX is not liable for any damage or loss,
including but not limited to, any loss of investment, which may be based either directly orindirectly
on the use of or reliance on such information. Before deciding whether or not to take part in foreign exchange
or financial markets or any other type of financial instrument, please carefully consider
your investment objectives, level of experience and risk appetite.
