Industrial activity declined by 2.3% year-on-year in June, mainly due to the weak performance of oilseed milling, cereals and alcohol production during the month, which was mainly affected by drought. In the construction sector, on the other hand, activity levels declined by 2.8% year-on-year in June and a cumulative decline of 2.1% for the first six months of 2023. The decline in industrial production during June occurred in a skewed framework, as nine of the 16 divisions that make up the index saw year-on-year declines. In order of its occurrence at the general level, “food and beverages” decreased by -4.2%; “Other equipment, tools and equipment”, -20.3%; “Machinery and equipment”, -5.5%; “Wood, paper, publishing and printing”, -2.6%; and “Non-metallic mineral products”, -3.3%. Meanwhile, data on apparent consumption of inputs for construction showed a 19.5% increase in granite and calcareous mosaics in June; 17.3% in asphalt; The rest of the inputs include 8.7% (faucet, seamless steel tube and glass for construction); 6.0% in ready concrete; and 1.9% in construction paint.

Source: Daily Nation August 10, 2023 05:36 UTC