The Week 27 That Was: Manufacturing Production

Manufacturing production decreased by 2,3% in May 2022 compared with May 2021. The index hasn’t recovered from COVID19 and Lockdown measures of 2020 (Figure 1, Volume of manufacturing production). Manufacturing is the process where machines produce goods from raw materials. Production is the process of converting resources into finished products.

The largest negative contributions were made by the following divisions:

· motor vehicles, parts and accessories and other transport equipment (-19,2% and contributing -2,1 percentage points);

· food and beverages (-4,1% and contributing -0,9 of a percentage point);

· wood and wood products, paper, publishing and printing (-8,1% and contributing -0,8 of a percentage point); and

· basic iron and steel, non-ferrous metal products, metal products and machinery (-2,3% and contributing -0,5 of a percentage point).

Food , Beverages and Basic Iron and Steel contributes 49% of manufacturing production. These divisions could be the largest contributor to employment.