Manufacturing production decreased by 0.8% in March compared with March last year, with the largest negative contributions having been made by the petroleum, chemical products, rubber and plastic products division.

Petroleum and assorted output declined by 2.5% and contributed 0.5 of a percentage point. The electrical machinery division also contributed negatively to the headline figure, contributing 0.3 of a percentage point after output contracted by 12.2%.

Seasonally adjusted manufacturing production decreased by 2.2% in March compared with February. This followed month-on-month changes of 0.7% in February and 0% in January.

Seasonally adjusted manufacturing production decreased by 2.3% in the first quarter of the year compared with the fourth quarter of 2024. Seven of the ten manufacturing divisions reported negative growth rates over this period.

The largest negative contributions were reported in petroleum, having contracted by 3.9% and contributing -0.8 of a percentage point, as well as the food and beverages segment, which reported 2.4% lower output and contributed -0.6 of a percentage point to the headline figure.

Motor vehicles, parts and accessories and other transport equipment output also decreased in the quarter by 7%, contributing -0.5 of a percentage point.

In turn, seasonally adjusted manufacturing sales decreased by 0.2% in March compared with February. This followed month-on-month changes of 0.2% in February and -1% in January.

Seasonally adjusted manufacturing sales decreased by 1.1% in the first quarter of the year compared with the fourth quarter of 2024.

The largest negative contributions were made by the basic iron and steel, non-ferrous metal products, metal products and machinery division, with sales having contracted by 3.9% and contributing -0.8 of a percentage point, as well as the motor vehicles segment, which reported 3.9% lower sales and contributed -0.8 of a percentage point to the headline sales figure for the period.