Altan San Securities - Mongolia Investment - Industrial output falls 7.2% year-on-year

Industrial output falls 7.2% year-on-year

Industrial output at the end of May was 7.2 percent less than in the same period in 2008. The fall was 1.5 percent in the mining and quarrying sector and 21.8 percent in the manufacturing sector. The former resulted primarily from the 1.6-42.8 percent drop in production of minerals such as copper, gold, fluorspar, tungsten and zinc, while in the latter there was a drop of 11.1-83.6 percent in the production of items like spirits and beer, lime, wheat flour, carpets, and molybdenum concentrate.
Of the MNT35.9 billion worth of construction and installation work in the period, 92.7 percent was done by domestic entities.

Source: www.news.mn

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