According to the National Bureau of Statistics, output in the mining and utilities sectors grew by 12.4% and 5.1% year-on-year, respectively. But this growth could not compensate for the decline in the manufacturing sector.
In February, industrial production grew by an adjusted 0.3% year-on-year and by an unadjusted 1.2%. The NBS did not provide a month-on-month comparison.
Industrial production (gross series) is down 1.1% in 2024 compared to 2023. The negative trend in industrial production is due to a decline in manufacturing production (-4.5%). At the same time, growth was recorded in the extractive industry (+10.7%), as well as in the production and supply of electricity and heat, gas, hot water and air conditioning (+16%). However, in the latter case we are talking about growth due to an increase in regulated tariffs, which has little to do directly with the production process.
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