Industrial output up by 10.2% in February

The industry reported a 10.2% output increase against February 2006, as compared with a 6.6% estimate and an average rate of 4.7% for the whole year. The growth in industry has exceeded expectations for the second month in a row, according to data released on Wednesday by the National Statistics Institute (INS). The main catalyst behind the growth was the manufacturing industry, with the increase in production standing at 12.7%, while the extracting industry and the utility industries (energy, gas, water) reported drops in their production against February 2006 of 0.5% and 6.5% respectively. As in previous months, industries involved in production of goods for daily use saw the biggest growth (of 16.7%) confirming the trend of production meeting market demands. At present, the INS has not published the figures of industrial branches. The 10.2% production growth in February accounts for twice as much as the rate seen in January (4.9%). February is the second consecutive month when output exceeded the expectations of the National Forecast Commission.