More than half of the various industrial sectors produced less than they did one year previously. Of the eight largest sectors, output fell the sharpest in the chemical industry.
A more accurate picture of changes in short-term output is obtained when the figures are adjusted for seasonal effects and the working-day pattern. After adjustment, manufacturing output fell by 0.1 per cent month on month (MoM) in June.
Producer confidence was almost as negative in July as it was in June. Manufacturers were more positive about expected output for the next three months, but more negative about their current stocks and order positions, a CBS release said.
ALCHEMPro News Desk (DS)
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