Page 36 - SE Outlook Regions 2024

2.6.2 Industrial production
Real GDP growth at constant factor prices in industry is seen at 3.4% in 2024, following an estimated growth of 2.1% in 2023, according to the World Bank.
The industrial production in the first ten months of 2023 increased by 1.7%. The industrial output in the manufacturing industry edged up by 0.5% y/y through October.
The mining output moved down 0.7%, while in the utilities sector it jumped by 18.6% y/y.
In October 2023, the industrial workforce experienced a 2.9% y/y growth. However, there were sector-specific variations: the mining and quarrying sector saw a 0.4% decrease in the number of employees, the manufacturing sector witnessed a 3.5% increase, and the electricity, gas, steam, and air conditioning supply sector recorded a 5.1% decrease in employment.
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