Industrial turnover down 6.4% at end of 2009

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Industrial turnover down 6.4% at end of 2009In the fourth quarter of 2009, industrial turnover declined by 6.4 per cent compared to the last quarter of 2008. This was mainly reflected in a drop in turnover for intermediate goods and energy by 3.7 and 7.6 per cent respectively, while consumer goods experienced a drop of 14.4 per cent, mainly due to lower turnover for non-durable consumer goods (-8.7 per cent). On the other hand, turnover in the capital goods sector gained 4.1 per cent over the corresponding period in 2008. The decline in total turnover was reflected in drops in domestic and non-domestic turnover of 6.8 and 10.0 per cent respectively. Intermediate goods, which make up 26.4 per cent of domestic turnover and 66.0 per cent of non-domestic turnover (see methodological notes), declined by 11.3 and 0.9 per cent respectively.

Industrial employment in the fourth quarter of 2009 went down by 8.5 per cent on account of a general decline, with the exception of non-durable consumer goods, which registered a comparative increase of 1.1 per cent.

Similarly, gross wages paid in the industrial sector fell by 14.3 per cent when compared to 2008, driven by a 4.4 per cent decline in the intermediate goods and the capital goods sectors. On the other hand, gross wages and salaries paid in the consumer goods sector rose by 9.8 per cent, on account of a 12.9 per cent rise in the non-durable consumer goods sector.

Furthermore, the total hours worked in the industrial sector declined by 6.5 per cent. This was mainly due to a drop in the number of hours worked in the intermediate goods sector. Other decreases were registered in the energy and capital goods sectors, of 5.7 and 16.6 per cent respectively. On the other hand, the total number of hours worked in the consumer goods sector rose by 2.3 per cent, due to an increase in hours worked in the non-durable consumer goods sector (+4.9 per cent), although hours worked in the durable consumer goods sector fell by 9.6 per cent.

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