10.8% increase presented by the General Index of Industrial Production in April, compared to the corresponding index of April 2023, against an increase of 4.4% noted during the corresponding comparison of 2023 with 2022.

According to ELSTAT, the average General Index of Industrial Production for the period January – April 2024, compared to the corresponding index for the period January – April 2023, showed an increase of 5.3%.

The seasonally adjusted General Index of Industrial Production for the month of April 2024, compared to the corresponding index for March 2024, showed an increase of 7.5%.

The index of the production sector of basic pharmaceutical products and pharmaceutical preparations saw the largest percentage increase while the index of the manufacturing sector of computers, electronic and optical products saw the largest percentage decreaseduring April 2024 compared to March 2024.

When comparing the April 2024 indices with the corresponding April 2023 indices, the largest percentage increase was recorded in the coal and lignite mining – crude oil and natural gas extraction – mining support industries, while the largest percentage decrease was recorded in the leather industry and leather goods.

What is the reason for the increase?

The increase in the (corrected for the number of working days) General Index of Industrial Production by 10.8% in the month of April 2024, compared to the corresponding index in April 2023, came from the following changes in the indices of individual industry sectors:

From the increase:

  • By 14.0% of the Electricity Supply Index.
  • By 10.3% of the Manufacturing Index. This increase was mainly contributed by the changes in the indicators of the two-digit branches: repair and installation of machinery and equipment, production of tobacco products, production of basic pharmaceutical products and pharmaceutical preparations, manufacture of metal products, production of other non-metallic mineral products.
  • By 8.8% of the Water Supply Index.
  • By 4.4% of the Mines – Quarries Index. This increase is due to the changes in the indicators of the two-digit branches: coal and lignite mining – crude oil and natural gas extraction – mining support activities, other mines and quarries.