Macedonia’s industrial output growth accelerates to 5.9% y/y in July 2014

By bne IntelliNews August 28, 2014

Macedonia's industrial output rose 5.9% y/y in July 2014, speeding up from a 4.9% y/y growth in June on the back of improved performance of utilities, statistics office data showed. The y/y decrease in the output of utilities narrowed to 7.6% last month from 33.1% in June.

On the other hand, manufacturing production expanded by 10.4% y/y in July, decelerating from a 12.8% y/y rise in June. The strongest increase took place in the manufacturing of motor vehicles, trailers and semi-trailers, with the statistics office only saying that the y/y index exceeded 1,000 (i.e. 10 times growth) in July and in Jan-July. On the other hand, there was no production of coke and refined petroleum products last month.

Also on the negative side, the annual contraction of mining output widened to 12% in July from 9.9% the month before. Output dropped y/y in all three mining subsectors – coal and lignite (down 12.3%), metal ores (down 15.5%) and other mining and quarrying (down 4.1%).

Industrial production grew 4.7% y/y in Jan-July 2014.

Industrial production volume growth, % y/y        
  Structure Jun'14 Jul'14 Jan-Jul'14
TOTAL 100.0 4.9 5.9 4.7
Main Industrial Groupings        
- Energy 16.2 -26.9 -8.8 -15.1
- Intermediate goods industries, except energy 31.4 0.2 5.5 8.2
- Capital goods industries 8.0 70.6 47.6 42.5
- Durable consumer goods industries 2.5 36.0 -9.2 0.3
- Non-durable consumer goods industries 42.0 6.4 5.2 3.8
- Mining and quarrying 11.9 -9.9 -12.0 -1.5
- Manufacturing 75.5 12.8 10.4 10.3
- Utilities 12.6 -33.1 -7.6 -19.6
Source: Statistics office        

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