After the negative impact of the coronavirus pandemic on economic activity, which affected its sharp decline in April and only partial recovery in May 2020, surprising data for June and July followed, showing that the recovery is far faster than expected, it was the latest Bulletin “Monthly Analyzes and Trends” (MAT).
This conclusion, above all, refers to the year-on-year increase in industrial production in these two months and to a significant reduction in the decline in foreign trade.
As it is pointed out, after a year-on-year decline of 16.7 percent in April, the year-on-year decline in total industrial production followed in May, but was reduced to 9.3 percent.
The cumulative decline in the January-May period was 2.6 percent. However, the year-on-year increase was 2.7 percent in June, and 0.4 percent in July, so that the cumulative year-on-year decline for the period January-July was reduced to 1.4 percent, according to the MAT.
As it is pointed out, crucial for the dynamics of total industrial production is the dynamics of manufacturing production, which, after an extremely large year-on-year decline in April by 20 percent and 9.4 percent in May, increased by 4.4 percent in June and decreased by insignificant in July. 0.8 percent.
Thus, the cumulative decline in seven months was reduced from 2.6 percent in five months to 1.3 percent, Nova reports.
