Production: results for March 2024

Manufacturing production decreased by 6,4% in March 2024 compared with March 2023. The following divisions made the largest negative contributions:

·        motor vehicles, parts and accessories and other transport equipment (-25,9% and contributing -2,7 percentage points);

·        basic iron and steel, non-ferrous metal products, metal products and machinery (-9,0% and contributing ‑1,9 percentage points); and

·        petroleum, chemical products, rubber and plastic products (-3,9% and contributing -0,8 of a percentage point).

Seasonally adjusted manufacturing production decreased by 2,2% in March 2024 compared with February 2024. This followed month-on-month changes of -1,0% in February 2024 and 0,8% in January 2024.

Seasonally adjusted manufacturing production decreased by 1,0% in the first quarter of 2024 compared with the fourth quarter of 2023. Five of the ten manufacturing divisions reported negative growth rates over this period.

The following divisions made the largest negative contributions:

·        motor vehicles, parts and accessories and other transport equipment (-14,9% and contributing -1,5 percentage points); and

·        basic iron and steel, non-ferrous metal products, metal products and machinery (-3,1% and contributing -0,6 of a percentage point).

The largest positive contributions were made by the following divisions:

·        food and beverages (2,7% and contributing 0,6 of a percentage point); and

·        petroleum, chemical products, rubber and plastic products (2,6% and contributing 0,5 of a percentage point).

Sales: results for March 2024

Seasonally adjusted manufacturing sales increased by 0,1% in the first quarter of 2024 compared with the fourth quarter of 2023. The largest positive contributions were made by the following divisions:

·        food and beverages (5,6% and contributing 1,3 percentage points); and

·        petroleum, chemical products, rubber and plastic products (4,3% and contributing 0,9 of a percentage point).

The largest negative contribution was made by the motor vehicles, parts and accessories and other transport equipment division (-8,6% and contributing -1,5 percentage points).