In the fourth quarter last year, provisional data indicate that industrial turnover and manufacturing new orders decreased by 4.6 and 15.6 per cent
Total industrial turnover decreased by 4.6 per cent to 108.2 points in the fourth quarter of 2011, primarily as a result of a 15.0 per cent decrease in intermediate goods, which comprise 44.0 per cent of total industrial turnover. Furthermore, turnover in consumer goods decreased by 3.5 per cent mainly on account of a drop of 4.0 per cent in non-durable consumer goods. Capital goods and energy advanced by 13.9 and 4.8 per cent respectively, while durable consumer goods rose by 7.2 per cent.
Domestic industrial turnover for the period under review increased by 2.9 per cent on account of a rise of 4.8 and 27.9 per cent in energy and capital goods respectively, while turnover in the consumer goods sector edged up by 0.4 per cent. Furthermore, non-domestic industrial turnover decreased by 10.5 per cent, mainly on account of a 17.6 per cent drop in intermediate goods.
During the fourth quarter of 2011, total, domestic and non-domestic new orders, for manufacturing industries dropped by 15.6, 12.1 and 15.7 per cent over the corresponding quarter in 2010. This was reflected in nearly all the main industrial groupings except capital goods, which advanced by 13.4 per cent overall and by 51.9 and 10.2 per cent in domestic and non-domestic markets respectively.
Industrial employment edged up by 0.3 per cent when compared to the fourth quarter of 2010. Employment in the capital goods and non-durable consumer goods sectors registered an increase of 3.3 and 1.9 per cent respectively while declines of 0.4, 0.9 and 8.8 per cent were recorded in the intermediate, energy and durable consumer goods sectors.
Gross wages and salaries decreased by 0.5 per cent when compared to the corresponding quarter of 2010, to stand at 95.4 points. This was mainly reflected in a decrease in gross wages and salaries in the energy and durable consumer goods sectors of 16.0 and 12.5 per cent respectively. Conversely, gross wages and salaries rose by 11.0 per cent in capital goods, by 1.4 per cent in the intermediate goods, and by 1.8 per cent in consumer goods.
Wages and salaries for consumer goods sector rose on account of a 2.7 per cent increase in wages and salaries expended in non-durable consumer goods. Hours worked in the industrial sector increased by 1.4 per cent. Whereas hours worked in intermediate and capital goods rose by 1.3 and 6.3 per cent respectively, this was mitigated by less hours worked in the energy sector by 5.7 per cent.
Hours worked in the consumer goods sector went up by 1.4 per cent on account of an increase of 2.9 per cent in non-durable consumer goods. Off setting this rise was a drop of 12.8 per cent in hours worked in the durable consumer goods sector.
These figures come from the National Statistics Office.