Issue link: https://maltatoday.uberflip.com/i/1509516
10 NEWS 12.10.2023 IN August 2023, industrial output in- creased by 2.9 per cent when compared to August 2022. e monthly Index of Industrial Pro- duction (IIP) is a business cycle indica- tor. It provides an early measure of change in the volume of industrial output pro- duced by domestic businesses in the manufacturing, energy, and quarrying sectors in Malta. Total industrial output – annual comparison In August 2023, the index of industri- al production increased by 2.9 per cent when compared to the corresponding month in 2022. When excluding energy, the index in- creased by 4.0 per cent. Manufacturing output – annual comparison In August 2023, manufacturing output went up by 4.1 per cent. e largest upward change was regis- tered in the production of chemical and pharmaceutical products (14.9 per cent) followed by the production of wood, paper products and printing (12.7 per cent) and the production of comput- er, electronic and optical products and motor vehicles (8.9 per cent). On the other hand, other manufactur- ing fell by 2.6 per cent. Industrial output – annual comparison by main industrial grouping e Main Industrial Groupings (MIGs) provide an alternative statistical breakdown of economic activities clas- sified according to end-use categories. ey combine several NACE divisions, groups and classes together. In August 2023, the production of intermediate goods, capital goods and consumer goods increased by 8.7 per cent, 7.4 per cent and 0.5 per cent re- spectively. On the contrary, there was a drop of 1.1 per cent in the production of energy. Seasonally adjusted industrial production – monthly comparison A clearer picture of the economic developments can be obtained when indices are adjusted for seasonal ef- fects. These recurring effects are re- moved from the index series to enable month-to-month comparisons. The seasonally adjusted index of in- dustrial production for August 2023 increased by 0.6 per cent when com- pared to July 2023 and stood at 112.8 index points (2015=100). Industrial output up 2.9 per cent in August Manufacturing output - annual comparison by selected aggregates APS Bank is inviting individuals with relevant qualifications, competence and experience to show their interest in joining its Board of Direc- tors as independent, non-executive members. All names that are considered conforming to the Bank's suitability criteria and regulatory requirements will be registered in the Nomina- tions Pool and evaluated by the Nominations & Remuneration Committee, being key elements of the Board's succession framework. Inclusion in the Pool shall not automatically trigger a nomination for appointment to the Board, whether to fill a casual vacancy or at a forthcoming Annual General Meeting. Interested persons are requested to submit a detailed curriculum vitae and covering letter to the Company Secretary at APS Centre, Tower Street, Birkirkara BKR 4012, Malta, or via email on companysecretariat@apsbank.com.mt, by 30 November 2023. Further information on the Bank and about this call are provided on https:// www.apsbank.com.mt/investor-relations/. APS issues call for independent non-executive directors