The Industrial Outlook Survey conducted during August-September 2013, provides qualitative assessment of business situation of companies in the Indian manufacturing sector for Q2:2013-14 and their expectations for the ensuing quarter Q3:2013-14. The survey elicited response from 1,207 manufacturing companies. Highlights: -
The assessment of major demand side parameters, as measured by net responses of the companies indicates that while the sentiments on production remained broadly unchanged, the sentiments on order books, capacity utilisation, exports and imports moderated substantially in Q2:2013-14. The demand condition outlook for Q3:2013-14 shows lower optimism. -
The perceptions on overall financial situation dropped substantially for Q2:2013-14. The outlook for Q3: 2013-14 also shows similar sentiments. -
The sentiments on Availability of Finance from all the three sources viz., from internal accruals, from banks & other financial institutions and from overseas, fell for Q2:2013-14. The sentiments are further moderated for Q3:2013-14. -
Cost of external finance is perceived to rise, and the percentage of respondents expecting this rise has increased for the first time since Q4:2011-12. -
Majority of the respondents reported no change in the levels of raw material and finished goods inventories in both the assessment and expectation quarters. -
The cost of raw material is expected to rise significantly during Q3:2013-14, and companies expect to pass on a portion of the higher cost to their customers, as reflected in the increase in their expectations on selling price. -
The perception on profit margin continues to remain in the negative terrain and is expected to deteriorate further for Q3: 2013-14. -
A question on expectation on movements in salary/other remuneration to employees was introduced in the 63rd round of the survey. Majority of the respondents (75 per cent) expect no change in the salary and less than three per cent expect the salary to decrease for Q3: 2013-14. -
The Business Expectation Index (BEI), a measure that gives a single snapshot of the industrial outlook, dropped significantly by 3.9 points for Q2: 2013-14, and at 97.3 it was below the threshold level of 100 which separates expansion from contraction. For Q3: 2013-14, BEI fell by 2.8 points and at 109.9 remained above the threshold level. Table 1: Assessment and Expectations for Production | (Percentage responses) @ | Survey Quarter | Total response | Assessment for Current Quarter | Expectation for Next Quarter | Increase | Decrease | No change | Net response* | Increase | Decrease | No change | Net response | Q2: 2012-13 | 1561 | 37.9 | 19.2 | 42.9 | 18.8 | 45.4 | 11.7 | 42.9 | 33.6 | Q3: 2012-13 | 1388 | 37.5 | 18.8 | 43.7 | 18.6 | 46.1 | 10.4 | 43.4 | 35.7 | Q4: 2012-13 | 1301 | 36.8 | 18.2 | 45.0 | 18.6 | 46.3 | 9.2 | 44.4 | 37.1 | Q1:2013-14 | 1321 | 32.0 | 22.2 | 45.7 | 9.8 | 38.3 | 13.8 | 47.9 | 24.4 | Q2:2013-14 | 1207 | 31.8 | 21.0 | 47.2 | 10.8 | 40.6 | 12.1 | 47.3 | 28.5 | Q3: 2013-14 | | | | | | 40.8 | 12.0 | 47.2 | 28.9 | ‘Increase’ in production is optimistic.
@: Due to rounding off percentage may not add up to 100.
*: Net Response (NR) is the difference of percentage of the respondents reporting an increase and that reporting a decrease. |
Table 2: Assessment and Expectations for Order books | (Percentage responses) | Survey Quarter | Total response | Assessment for Current Quarter | Expectation for Next Quarter | Increase | Decrease | No change | Net response | Increase | Decrease | No change | Net response | Q2: 2012-13 | 1561 | 31.9 | 19.8 | 48.3 | 12.0 | 41.0 | 11.1 | 47.9 | 29.9 | Q3: 2012-13 | 1388 | 32.0 | 19.2 | 48.8 | 12.9 | 41.2 | 10.9 | 48.0 | 30.3 | Q4: 2012-13 | 1301 | 32.7 | 18.6 | 48.7 | 14.0 | 40.0 | 10.2 | 49.8 | 29.8 | Q1:2013-14 | 1321 | 30.5 | 20.9 | 48.6 | 9.7 | 35.5 | 13.2 | 51.2 | 22.3 | Q2:2013-14 | 1207 | 27.9 | 22.3 | 49.8 | 5.5 | 36.8 | 11.5 | 51.8 | 25.3 | Q3:2013-14 | | | | | | 34.7 | 13.7 | 51.5 | 21.0 | | ‘Increase’ in order books is optimistic. |
Table 3: Assessment and Expectations for Pending Orders | (Percentage responses) | Survey Quarter | Total response | Assessment for Current Quarter | Expectation for Next Quarter | Below Normal | Above Normal | Normal | Net response | Below Normal | Above Normal | Normal | Net response | Q2:2012-13 | 1561 | 18.7 | 5.6 | 75.7 | 13.1 | 14.6 | 6.2 | 79.2 | 8.4 | Q3:2012-13 | 1388 | 18.8 | 4.4 | 76.8 | 14.3 | 14.4 | 7.0 | 78.6 | 7.4 | Q4:2012-13 | 1301 | 19.3 | 4.7 | 75.9 | 14.6 | 14.6 | 4.5 | 80.9 | 10.1 | Q1:2013-14 | 1321 | 19.9 | 3.6 | 76.5 | 16.3 | 16.9 | 5.3 | 77.7 | 11.6 | Q2:2013-14 | 1207 | 21.3 | 3.9 | 74.8 | 17.3 | 15.9 | 4.4 | 79.6 | 11.5 | Q3:2013-14 | | | | | | 17.5 | 3.8 | 78.8 | 13.7 | | Pending orders ‘Below Normal’ is optimistic. |
Table 4: Assessment and Expectations for Capacity Utilisation | (Percentage responses) | Parameter | Options | Assessment for Current Quarter | Expectation for Next Quarter | Q3:2012-13 | Q4:2012-13 | Q1:2013-14 | Q2:2012-13 | Q4:2012-13 | Q1:2013-14 | Q2:2013-14 | Q3:2013-14 | Capacity Utilisation (CU)-(main product) | Increase | 23.3 | 23.7 | 22.6 | 20.7 | 31.1 | 24.9 | 27.5 | 26.8 | No Change | 59.0 | 60.5 | 57.1 | 58.6 | 59.6 | 62.0 | 60.9 | 12.6 | Decrease | 17.6 | 15.9 | 20.3 | 20.7 | 9.3 | 13.1 | 11.6 | 60.6 | Net Response | 5.7 | 7.8 | 2.3 | 0.0 | 21.7 | 11.7 | 15.9 | 14.2 | Level of CU (compared to the average in last 4 quarters) | Above normal | 9.1 | 10.0 | 8.7 | 8.9 | 10.7 | 10.5 | 9.8 | 9.8 | Normal | 70.9 | 71.3 | 71.0 | 70.7 | 76.6 | 74.5 | 76.2 | 75.0 | Below Normal | 20.0 | 18.7 | 20.3 | 20.4 | 12.7 | 15.0 | 13.9 | 15.2 | Net Response | -10.8 | -8.7 | -11.6 | -11.5 | -2.1 | -4.4 | -4.1 | -5.3 | Assessment of Prod. Capacity (with regard to expected demand in next 6 months) | More than adequate | 14.2 | 13.4 | 14.6 | 15.0 | 13.0 | 13.7 | 13.7 | 14.8 | Adequate | 77.5 | 77.4 | 76.4 | 77.0 | 79.6 | 78.4 | 78.4 | 78.0 | Less than adequate | 8.3 | 9.2 | 9.0 | 8.1 | 7.4 | 7.9 | 7.9 | 7.1 | Net Response | 5.9 | 4.2 | 5.7 | 6.9 | 5.6 | 5.7 | 5.8 | 7.7 | | ‘Increase’ in capacity utilisation is optimistic. |
Table 5: Assessment and Expectations for Exports | (Percentage responses) | Survey Quarter | Total response | Assessment for Current Quarter | Expectation for Next Quarter | Increase | Decrease | No change | Net response | Increase | Decrease | No change | Net response | Q2:2012-13 | 1561 | 25.3 | 15.2 | 59.5 | 10.0 | 31.0 | 10.5 | 58.5 | 20.5 | Q3:2012-13 | 1388 | 24.3 | 15.0 | 60.6 | 9.3 | 29.0 | 10.9 | 60.1 | 18.0 | Q4:2012-13 | 1301 | 25.9 | 15.0 | 59.1 | 10.8 | 28.5 | 10.1 | 61.4 | 18.4 | Q1:2013-14 | 1321 | 23.8 | 15.2 | 61.0 | 8.6 | 27.1 | 10.4 | 62.5 | 16.7 | Q2:2013-14 | 1207 | 24.9 | 17.1 | 58.0 | 7.8 | 28.6 | 10.0 | 61.5 | 18.7 | Q3:2013-14 | | | | | | 27.4 | 10.9 | 61.7 | 16.5 | ‘Increase’ in exports is optimistic. |
Table 6: Assessment and Expectations for Import | (Percentage responses) | Survey Quarter | Total response | Assessment for Current Quarter | Expectation for Next Quarter | Increase | Decrease | No change | Net response | Increase | Decrease | No change | Net response | Q2: 2012-13 | 1561 | 20.7 | 10.9 | 68.5 | 9.8 | 22.9 | 7.4 | 69.7 | 15.5 | Q3: 2012-13 | 1388 | 19.0 | 10.2 | 70.7 | 8.8 | 22.1 | 8.1 | 69.8 | 14.0 | Q4: 2012-13 | 1301 | 19.8 | 11.5 | 68.8 | 8.3 | 20.9 | 7.4 | 71.7 | 13.5 | Q1:2013-14 | 1321 | 18.7 | 10.7 | 70.6 | 8.0 | 20.4 | 8.5 | 71.1 | 11.9 | Q2:2013-14 | 1207 | 18.3 | 14.7 | 67.0 | 3.6 | 19.9 | 8.7 | 71.4 | 11.2 | Q3:2013-14 | | | | | | 19.0 | 11.3 | 69.7 | 7.7 | ‘Increase’ in imports is optimistic. |
Table 7: Assessment and Expectations for level of Inventory (Raw material and Finished goods) | (Percentage responses) | Parameter | Options | Assessment for Quarter | Expectations for Quarter | Q3:2012-13 | Q4:2012-13 | Q1:2013-14 | Q2:2013-14 | Q4:2012-13 | Q1:2013-14 | Q2:2013-14 | Q3:2013-14 | Inventory of raw material | Below average | 7.6 | 7.9 | 8.0 | 8.7 | 5.5 | 6.3 | 6.3 | 6.3 | Average | 79.8 | 79.8 | 78.7 | 78.7 | 83.9 | 84.2 | 83.6 | 83.6 | Above average | 12.6 | 12.2 | 13.3 | 12.6 | 10.6 | 9.5 | 10.6 | 10.1 | Net Response | -5.0 | -4.3 | -5.3 | -3.8 | -5.1 | -3.3 | -3.9 | -3.9 | Inventory of Finished goods | Below average | 7.0 | 7.4 | 8.1 | 7.5 | 7.0 | 6.3 | 7.0 | 6.2 | Average | 78.0 | 76.5 | 77.3 | 77.0 | 83.1 | 83.1 | 82.7 | 82.5 | Above average | 15.0 | 16.1 | 14.7 | 15.5 | 9.9 | 10.6 | 10.3 | 11.3 | Net Response | -8.0 | -8.7 | -6.6 | -8.1 | -3.0 | -4.3 | -3.3 | -5.0 | | Inventory of raw material and finished goods ‘Below average’ is optimistic. |
Table 8: Assessment & Expectations for Employment Outlook | (Percentage responses) | | Survey Quarter | Total response | Assessment for Current Quarter | Expectation for Next Quarter | Increase | Decrease | No change | Net response | Increase | Decrease | No change | Net response | Q2: 2012-13 | 1561 | 17.9 | 9.6 | 72.5 | 8.3 | 20.5 | 8.3 | 71.2 | 12.3 | Q3: 2012-13 | 1388 | 16.4 | 9.7 | 73.9 | 6.7 | 19.2 | 5.9 | 74.9 | 13.3 | Q4: 2012-13 | 1301 | 15.3 | 9.8 | 74.9 | 5.5 | 17.2 | 6.9 | 75.8 | 10.3 | Q1:2013-14 | 1321 | 14.4 | 11.2 | 74.4 | 3.2 | 16.0 | 8.0 | 76.1 | 8.0 | Q2:2013-14 | 1207 | 11.3 | 11.5 | 77.3 | -0.2 | 16.0 | 8.4 | 75.6 | 7.7 | Q3:2013-14 | | | | | | 13.3 | 8.8 | 77.9 | 4.5 | | ‘Increase’ in employment is optimistic. |
Table 9: Assessment and Expectations for Overall Financial Situation | (Percentage responses) |
Survey Quarter
| Total response | Assessment for Current Quarter | Expectation for Next Quarter | Better | Worsen | No change | Net response | Better | Worsen | No change | Net response | Q2: 2012-13 | 1561 | 27.1 | 14.9 | 58.0 | 12.2 | 33.2 | 9.5 | 57.3 | 23.6 | Q3: 2012-13 | 1388 | 26.4 | 13.7 | 59.9 | 12.7 | 34.8 | 9.0 | 56.2 | 25.8 | Q4: 2012-13 | 1301 | 26.9 | 15.1 | 58.0 | 11.8 | 34.9 | 7.9 | 57.2 | 27.0 | Q1:2013-14 | 1321 | 23.3 | 13.8 | 63.0 | 9.5 | 31.5 | 9.6 | 58.9 | 21.9 | Q2:2013-14 | 1207 | 21.4 | 19.5 | 59.1 | 1.8 | 33.2 | 9.1 | 57.7 | 24.1 | Q3:2013-14 | | | | | | 29.7 | 12.4 | 57.9 | 17.3 | | ‘Better’ overall financial situation is optimistic. |
Table 10: Assessment and Expectations for Working Capital Finance Requirement | (Percentage responses) | |
Survey Quarter
| Total response | Assessment for Current Quarter | Expectation for Next Quarter | Increase | Decrease | No change | Net response | Increase | Decrease | No change | Net response | Q2: 2012-13 | 1561 | 37.5 | 6.8 | 55.8 | 30.7 | 34.9 | 4.8 | 60.3 | 30.1 | Q3: 2012-13 | 1388 | 35.0 | 5.7 | 59.4 | 29.3 | 37.3 | 4.4 | 58.3 | 32.9 | Q4: 2012-13 | 1301 | 35.2 | 6.3 | 58.5 | 29.0 | 35.8 | 3.8 | 60.5 | 32.0 | Q1:2013-14 | 1321 | 32.1 | 7.3 | 60.5 | 24.8 | 33.0 | 6.5 | 60.4 | 26.5 | Q2:2013-14 | 1207 | 32.9 | 8.1 | 59.0 | 24.8 | 31.0 | 6.5 | 62.5 | 24.5 | Q3: 2013-14 | | | | | | 32.7 | 5.3 | 61.9 | 27.4 | | ‘Increase’ in working capital finance is optimistic. |
Table 11: Assessment and Expectations for Availability of Finance | (Percentage responses) | Parameter | Options | Assessment | Expectations | Q1:2013-14 | Q2:2013-14 | Q2:2013-14 | Q3:2013-14 | Availability of finance (from internal accruals)* | Improve | 21.2 | 18.3 | 24.6 | 23.2 | No Change | 68.4 | 66.4 | 67.9 | 67.6 | Worsen | 10.4 | 15.2 | 7.4 | 9.2 | Net Response | 10.8 | 3.1 | 17.2 | 14.0 | Availability of Finance(from banks & other sources)* | Improve | 18.8 | 14.2 | 20.0 | 18.2 | No Change | 74.4 | 75.6 | 75.2 | 75.6 | Worsen | 6.7 | 10.3 | 4.8 | 6.2 | Net Response | 12.1 | 3.9 | 15.2 | 12.0 | Availability of Finance (from overseas, if applicable)* | Improve | 10.1 | 7.6 | 11.6 | 8.9 | No Change | 84.7 | 84.6 | 83.7 | 85.0 | Worsen | 5.2 | 7.8 | 4.6 | 6.0 | Net Response | 5.0 | -0.2 | 7.0 | 2.9 | ‘Improvement’ in availability of finance is optimistic.
*: These questions are newly added by splitting the question on Availability of Finance (both internal and external sources) in the 61st Round (Jan-March 2013). |
Table 12: Assessment and Expectations for Cost of External Finance | (Percentage responses) | Survey Quarter | Total response | Assessment for Current Quarter | Expectation for Next Quarter | Decrease | Increase | No change | Net response | Decrease | Increase | No change | Net response | Q2: 2012-13 | 1561 | 5.8 | 33.1 | 61.1 | -27.4 | 8.6 | 32.6 | 58.9 | -24.0 | Q3: 2012-13 | 1388 | 5.8 | 30.3 | 63.9 | -24.4 | 7.6 | 28.1 | 64.3 | -20.6 | Q4: 2012-13 | 1301 | 9.5 | 27.0 | 63.5 | -17.6 | 7.5 | 25.5 | 67.0 | -18.1 | Q1:2013-14 | 1321 | 10.1 | 24.6 | 65.3 | -14.5 | 9.7 | 24.0 | 66.3 | -14.3 | Q2:2013-14 | 1207 | 5.0 | 37.6 | 57.4 | -32.7 | 9.1 | 21.5 | 69.5 | -12.4 | Q3:2013-14 | | | | | | 4.9 | 33.2 | 61.9 | -28.3 | | ‘Decrease’ in cost of external finance is optimistic. |
Table 13: Assessment and Expectations for Cost of Raw Material | (Percentage responses) | Survey Quarter | Total response | Assessment for Current Quarter | Expectation for Next Quarter | Decrease | Increase | No change | Net response | Decrease | Increase | No change | Net response | Q2: 2012-13 | 1561 | 3.0 | 62.6 | 34.4 | -59.6 | 3.5 | 54.9 | 41.6 | -51.4 | Q3: 2012-13 | 1388 | 5.4 | 56.2 | 38.4 | -50.7 | 3.5 | 52.1 | 44.3 | -48.6 | Q4: 2012-13 | 1301 | 4.3 | 57.8 | 37.9 | -53.5 | 3.3 | 48.3 | 48.3 | -45.0 | Q1:2013-14 | 1321 | 4.6 | 54.5 | 40.9 | -49.9 | 3.6 | 49.2 | 47.1 | -45.6 | Q2:2013-14 | 1207 | 2.8 | 65.0 | 32.2 | -62.2 | 3.5 | 46.9 | 49.6 | -43.4 | Q3:2013-14 | | | | | | 3.2 | 54.6 | 42.2 | -51.5 | | ‘Decrease’ in cost of raw material is optimistic. |
Table 14: Assessment and Expectations for Selling Price
| | (Percentage responses) | Survey Quarter | Total response | Assessment for Current Quarter | Expectation for Next Quarter | Increase | Decrease | No change | Net response | Increase | Decrease | No change | Net response | Q2: 2012-13 | 1561 | 29.3 | 10.9 | 59.8 | 18.5 | 27.8 | 9.0 | 63.2 | 18.8 | Q3: 2012-13 | 1388 | 22.5 | 12.3 | 65.1 | 10.2 | 25.6 | 8.3 | 66.1 | 17.3 | Q4: 2012-13 | 1301 | 22.3 | 13.2 | 64.5 | 9.1 | 22.8 | 7.0 | 70.2 | 15.8 | Q1:2013-14 | 1321 | 21.4 | 14.1 | 64.5 | 7.3 | 23.1 | 8.1 | 68.8 | 14.9 | Q2:2013-14 | 1207 | 25.1 | 13.8 | 61.1 | 11.3 | 21.2 | 9.1 | 69.7 | 12.1 | Q3:2013-14 | | | | | | 23.4 | 9.5 | 67.0 | 13.9 | | ‘Increase’ in selling price is optimistic. |
Table 15: Assessment and Expectations for Profit Margin | (Percentage responses) | Survey Quarter | Total response | Assessment for Current Quarter | Expectation for Next Quarter | Increase | Decrease | No change | Net response | Increase | Decrease | No change | Net response | Q2: 2012-13 | 1561 | 16.2 | 31.2 | 52.6 | -15.1 | 20.1 | 23.6 | 56.3 | -3.6 | Q3: 2012-13 | 1388 | 14.5 | 31.2 | 54.2 | -16.7 | 20.5 | 21.8 | 57.7 | -1.3 | Q4: 2012-13 | 1301 | 16.2 | 31.5 | 52.3 | -15.3 | 18.8 | 20.8 | 60.4 | -2.0 | Q1:2013-14 | 1321 | 13.5 | 31.9 | 54.6 | -18.4 | 17.7 | 22.7 | 59.6 | -4.9 | Q2:2013-14 | 1207 | 12.3 | 36.4 | 51.3 | -24.1 | 18.6 | 22.3 | 59.1 | -3.7 | Q3:2013-14 | | | | | | 16.5 | 25.7 | 57.8 | -9.3 | | ‘Increase’ in profit margin is optimistic. |
Table 16: Assessment and Expectations for Overall Business Situation | (Percentage responses) |
Survey Quarter
| Total response | Assessment for Current Quarter | Expectation for Next Quarter | Better | Worsen | No change | Net response | Better | Worsen | No change | Net response | Q2: 2012-13 | 1561 | 32.8 | 16.7 | 50.5 | 16.1 | 40.2 | 9.7 | 50.1 | 30.6 | Q3: 2012-13 | 1388 | 32.3 | 15.0 | 52.7 | 17.2 | 41.4 | 9.2 | 49.4 | 32.2 | Q4: 2012-13 | 1301 | 32.8 | 14.4 | 52.8 | 18.4 | 44.8 | 7.2 | 48.0 | 37.5 | Q1:2013-14 | 1321 | 29.3 | 16.5 | 54.2 | 12.8 | 39.3 | 9.7 | 51.1 | 29.6 | Q2:2013-14 | 1207 | 28.2 | 20.8 | 51.0 | 7.4 | 39.2 | 9.2 | 51.6 | 30.0 | Q3:2013-14 | | | | | | 37.4 | 11.7 | 50.8 | 25.7 | | ‘Better’ Overall Business Situation is optimistic. |
Table 17: Business Expectation Index (BEI) | Quarter | BEI-Assessment
Quarter | BEI-Expectation Quarter | Q4: 2011-12 | 114.9 | 117.2 | Q1: 2012-13 | 107.4 | 116.8 | Q2: 2012-13 | 103.8 | 114.0 | Q3: 2012-13 | 104.5 | 115.7 | Q4: 2012-13 | 105.6 | 115.6 | Q1:2013-14 | 101.2 | 111.6 | Q2: 2013-14 | 97.3 | 112.7 | Q3: 2013-14 | | 109.9 |
Table 18: Assessment and Expectations for Salary/other remuneration | (Percentage responses) | | Parameter | Options | Assessment | Expectations | Q2:2013-14 | Q3:2013-14 | Salary/other remuneration to employees | Increase | 30.3 | 22.5 | Decrease | 3.4 | 2.7 | No Change | 66.3 | 74.8 | Net Response | 26.8 | 19.8 |
Table19: Outlook for important business parameters according to Industries
| (Net response in per cent) | | Production | Order books | Cost of raw material | Cost of finance | Profit Margin | | Rd62 | Rd63 | Rd62 | Rd63 | Rd62 | Rd63 | Rd62 | Rd63 | Rd62 | Rd63 | Food products | 23.5 | 39.6 | 11.5 | 32.9 | -61.1 | -45.0 | -17.6 | -22.5 | 0.9 | -1.0 | Textiles | 36.2 | 32.3 | 34.0 | 26.6 | -42.0 | -45.8 | -12.1 | -28.8 | -2.5 | -10.7 | Basic Metals & Metal products | 19.9 | 18.8 | 16.8 | 13.2 | -36.4 | -47.1 | -15.3 | -25.8 | -11.5 | -16.3 | Electrical machinery | 34.7 | 26.2 | 33.8 | 15.0 | -45.1 | -50.8 | -13.2 | -27.9 | -7.2 | -19.0 | Other Machinery (Non-electrical machinery) & Apparatus | 24.2 | 19.4 | 19.3 | 15.2 | -40.3 | -54.1 | -10.0 | -31.8 | -9.7 | -18.5 | Transport Equipment | 24.1 | 13.0 | 23.7 | 12.7 | -29.9 | -48.5 | -2.7 | -13.4 | -8.8 | -26.9 | Fertilizers | 29.6 | 36.0 | 33.3 | 27.8 | -21.4 | -53.8 | -7.4 | -16.7 | 18.5 | 0.0 | Pharmaceuticals & Medicines | 53.8 | 39.0 | 44.0 | 24.3 | -48.8 | -58.4 | -15.0 | -25.0 | 4.8 | -3.8 | Basic Chemicals | 46.9 | 43.4 | 37.0 | 26.5 | -45.7 | -70.7 | -18.2 | -46.4 | 4.9 | 3.9 | Rubber & Plastic products | 31.0 | 49.0 | 32.7 | 23.9 | -57.1 | -58.8 | -9.3 | -34.0 | 5.3 | 3.9 | Paper & Paper products | 40.0 | 34.6 | 30.8 | 24.0 | -48.3 | -57.7 | -14.3 | -28.0 | -13.3 | -3.8 | Cement | 4.0 | 0.0 | -5.3 | -12.5 | -52.0 | -69.6 | -8.7 | -35.0 | -28.0 | -21.7 | Wood & wood products | 25.0 | 16.7 | 25.0 | -10.0 | -60.0 | -46.2 | -44.4 | -33.3 | 0.0 | -20.0 | Diversified companies | 19.3 | 26.4 | 21.5 | 26.2 | -35.9 | -40.4 | -9.4 | -29.1 | -3.5 | -4.2 | Other industries | 19.8 | 28.4 | 20.0 | 20.5 | -49.5 | -60.7 | -11.8 | -29.9 | -3.2 | -6.6 | All Industries | 28.5 | 28.9 | 25.3 | 21.0 | -43.4 | -51.5 | -12.4 | -28.3 | -3.7 | -9.3 |
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