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Main points
• In January 2023, industrial output increased by 12.4 per cent when compared to January 2022.
• The largest upward change in industrial production was registered in the manufacturing of computer, electronic and optical products and transport equipment (46.9 per cent).
• When compared to the previous month, total industrial production decreased by 0.5 per cent.

Total industrial output – annual comparison
In January 2023, the index of industrial production went up by 12.4 per cent when compared to the corresponding month in 2022. When excluding energy, the index went up by 11.8 per cent (Chart 1, Table 1).

Manufacturing output – annual comparison
In January 2023, manufacturing output went up by 12.0 per cent. The largest upward change was registered in the production of computer, electronic and optical products and transport equipment (46.9 per cent), followed by wood, paper products and printing (17.2 per cent) and chemical and pharmaceutical products (13.2 per cent). On the other hand, a downward change was registered in the production of food products and beverages (1.8 per cent) (Chart 2).

Industrial output – annual comparison by main industrial grouping
The Main Industrial Groupings (MIGs) provide an alternative statistical breakdown of economic activities classified according to end-use categories. They combine several NACE divisions, groups and classes together (see methodological table for further information).
In January 2023, the production of capital goods and intermediate goods increased by 14.9 per cent and 13.0 per cent, respectively.
Moreover, the production of energy increased by 12.3 per cent followed by the production of consumer goods (10.0 per cent) (Chart 3).

Seasonally adjusted industrial production – monthly comparison
A clearer picture of the economic developments can be obtained when indices are adjusted for seasonal effects. These recurring effects are removed from the index series to enable month-on-month comparisons (see methodological points 5 and 6).
The seasonally adjusted index of industrial production for January 2023 decreased by 0.5 per cent when compared to December 2022 and stood at 112.4 index points (2015=100) (Chart 4).

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