In the second quarter this year, provisional data released by the National Statistics Office indicates that industrial turnover rose by 2.2 per cent while manufacturing new orders decreased by 2.6 per cent over the corresponding quarter of 2010.

Total industrial turnover advanced by 2.2 per cent to 118.4 points in the second quarter of 2011, primarily as a result of increases of 4.8 per cent in energy and of 10.5 per cent in capital goods. Furthermore, intermediate goods which comprise 44.0 per cent of the total industrial turnover, edged up by 0.2 per cent.

Partially offsetting this rise was a decrease of 0.6 per cent in turnover for consumer goods, mostly on account of a drop of 0.5 per cent in non-durable consumer goods, while durable consumer goods fell by 2.5 per cent. Domestic industrial turnover increased by 3.9 per cent, mainly on account of increases in energy, intermediate and capital goods of 4.8, 1.4 and 41.5 per cent respectively. This increase was partially mitigated by a drop of 1.8 per cent in consumer goods. Non-domestic industrial turnover rose by 1.0 per cent, mainly on account of 0.9 and 11.1 per cent increases for consumer and capital goods respectively. On the other hand, intermediate goods declined by 0.8 per cent.

In the second quarter of 2011, new orders for manufacturing industries declined by 2.6 per cent over the corresponding period of 2010. This was mainly attributable to decreases of 1.7 and 14.6 per cent with regard to new orders for intermediate and consumer goods respectively. In contrast, new orders for capital goods rose by 10.1 per cent.

Domestic manufacturing new orders decreased by 4.3 per cent, mainly on account of drops of 29.2 and 11.6 per cent in consumer and intermediate goods respectively, while capital goods rose by 52.4 per cent. Similarly, non-domestic new orders contracted by 1.6 per cent, primarily as a result of 1.6 and 10.6 per cent declines in new orders for intermediate and consumer goods respectively. New orders for capital goods in this market rose by 13.2 per cent.

Industrial employment in the second quarter this year increased by 2.2 per cent when compared to the corresponding quarter of 2010. This was due to employment increases of 1.9 per cent in intermediate goods and of 12.6 per cent in capital goods, although employment in energy and consumer goods decreased by 1.1 and 0.3 per cent respectively.

The gross wages and salaries index for the period under review increased by 5.5 per cent to stand at 94.9 points, reflecting advances in gross wages and salaries for all the main industrial groupings, particularly capital goods, which rose by 16.3 per cent.

Furthermore, hours worked in the industrial sector increased by 2.7 per cent, driven by a rise in hours worked in the intermediate, capital and non-durable consumer goods sectors of 7.5, 3.2 and 1.4 per cent respectively. Meanwhile, hours worked in energy and in the durable consumer goods sectors both fell by 5.5 per cent.

Permalink: Q2 industrial turnover up & manufacturing new orders drop