Survey shows decline in manufacturing industry turnover, investment and jobs

A sample survey among manufacturing enterprises in the third quarter of 2009 revealed that, year-on-year, turnover, investment, and employment declined by 11.6, 54.2, and 5.6 per cent respectively, the NSo said today.

It reported that in the third quarter of 2009, turnover of the sampled manufacturing enterprises fell by 11.6 per cent to €502.3 million when compared to the third quarter last year. This decline was mainly observed in the Radio, TV and Communication Equipment, the Chemicals and Chemical Products, the Food and Beverages and the Rubber and Plastic Products sectors.

During the period under review, higher turnover was registered in the Electrical Machinery and Apparatus and the Other Transport Equipment sectors, which added €25.6 million and €7.8 million respectively.

Investment of the sampled enterprises fell by 54.2 per cent to €15.0 million, on account of a general decline in the major sectors.

At the end of September 2009, employment in the sampled enterprises decreased by 5.6 per cent to 16,268 employees over the corresponding period in 2008. Lower employment levels were mainly recorded in the Radio, TV and Communication Equipment sector (-585 employees), the Rubber and Plastic Products and the Publishing and Printing sectors, by 248 and 107 employees respectively.

On the other hand, an increase of 316 employees was registered in the Other Transport Equipment sector.

In the third quarter of 2009, €67.5 million was paid out in gross wages and salaries. This represented a decrease of €2.8 million or 4.0 per cent from the corresponding period in 2008, and was mainly due to the drop in employment of the sampled enterprises