In the third quarter this year, provisional data indicate that industrial turnover and manufacturing new orders advanced by 21.3 and 20.1 per cent respectively over the corresponding quarter of 2009.

Total industrial turnover advanced by 21.3 per cent to 124.8 points in the third quarter of 2010. Intermediate goods, comprising 44.0 per cent of total industrial turnover, rose by 17.4 per cent. Furthermore, turnover for energy and capital goods increased by 39.5 and 20.8 per cent respectively, while consumer goods rose by 4.1 per cent on account of a rise of 4.6 per cent in non-durable consumer goods. On the other hand, durable consumer goods fell by 3.4 per cent.

Domestic industrial turnover for the period under review increased by 24.1 per cent on account of a 39.5 per cent rise in energy, while a decrease of 1.4 per cent was registered in intermediate goods. Non-domestic industrial turnover rose by 18.6 per cent, mainly on account of increases of 22.3 and 23.8 per cent for intermediate and capital goods respectively.

New orders for manufacturing industries rose by 20.1 per cent when compared to the third quarter of 2009. This was attributable to an increase of 19.3 per cent for new orders in respect of intermediate goods. Similarly, new orders for capital goods rose by 26.3 per cent. Furthermore, consumer goods added 19.5 per cent on account of a 20.5 per cent rise in new orders for non- durable consumer goods.

Domestic manufacturing new orders rose by 3.3 per cent, mainly on account of increases of 5.7 and 19.5 per cent in consumer and capital goods respectively. Non-domestic new orders advanced by 22.0 per cent, mainly on account of an increase of 21.2 per cent for intermediate goods.

During the period under review, industrial employment declined by 2.0 per cent on account of a general decline in the main industrial groupings. Employment in energy declined by 2.2 per cent. Gross wages and salaries rose by 3.8 per cent when compared to the corresponding quarter of 2009. This was reflected in an increase in gross wages and salaries in the intermediate, energy and consumer goods sectors, of 7.7, 4.2 and 2.3 per cent respectively. On the other hand, gross wages and salaries in the capital goods sector fell by 1.6 per cent.

Hours worked declined by 2.0 per cent, primarily due to a 9.1 per cent drop in the energy sector. On the other hand, hours worked in the intermediate goods sector increased by 1.8 per cent.

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