KiviNovice

Industrial production increased by 1.7% m-o-m in June, according to original data (+3.1% y-o-y), which was mainly due to the growth of in manufacturing (+2% m-o-m; +6% y-o-y). As it is usual for industrial production to increase in June compared to May, changes based on seasonally adjusted data were different. Thus, IP fell by 0.2% m-o-m, of which by 0.6% in manufacturing activities (92% of total IP). For the second consecutive month, drop was high in mining (7% in May as well as in June).