Industrial production maintains upward trend
(VOV) -The index of industrial production (IIP) for August picked up 6.7% on-year due to an upturn in consumption, bringing an 8-month IIP to 6.3%, the General Statistics Office (GSO) announced.
In eight months, the manufacturing and processing sectors achieved a growth rate of 8.1%, and the power generation and distribution sector rose 11.2%, according to a GSO report.
Several industries attaining high IIPs included electronics, computers and optics production (up 34.5%), automobile manufacturing (up 20.2), and leather making (up 20.2%).
The GSO report shows the consumption of manufactured and processed products recovered in July, rising 2.7% over the previous month and 9.2% compared to the same period last year.
In the seven-month period, electronics, computers and fibre optical products obtained the highest sales growth of 33.9%, closely followed by leather products (22.2%), and automobiles (15.9%).
However, as of August 1, 2014, the inventory index of the manufacturing and processing sectors rose 13.4% over the same period of 2013. Major industries showing higher levels of inventory included paper production (54.1%), costume making (46.1%), and manufacturing of means of transport (42.6%).