Macedonia’s industrial output growth cools to 5.8% y/y in November

By bne IntelliNews December 31, 2014

Macedonia's industrial output growth decelerated to 5.8% y/y in November from 7.5% y/y in October due to a slowdown in manufacturing, statistics office data showed.

Manufacturing production widened by 3.4% y/y in November, decelerating from a 7.9% y/y rise the month before. 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 November and in January-November. On the other hand, no coke and refined petroleum products were manufactured in November.

Mining output expanded by 3% y/y in November, reversing a 4.2% y/y decline in the previous month. Production rose in other mining and quarrying (+16.9% y/y in November) and mining of metal ores (+7.8% y/y), but dropped in mining of coal and lignite (-13.7% y/y).

Output of utilities increased by 27.7% y/y in November, accelerating from a 21.3% y/y growth in October.

Industrial production grew 5.2% y/y in the first 11 months of 2014.

Industrial production volume growth, % y/y        
  Structure Oct'14 Nov'14 Jan-Nov'14
TOTAL 100.0 7.5 5.8 5.2
Main Industrial Groupings        
- Energy 16.2 16.9 17.4 -12.2
- Intermediate goods industries, except energy 31.4 2.0 7.9 7.0
- Capital goods industries 8.0 49.0 78.1 48.7
- Durable consumer goods industries 2.5 -19.6 5.9 -3.3
- Non-durable consumer goods industries 42.0 2.7 -9.9 2.9
Sections        
- Mining and quarrying 11.9 -4.2 3.0 -1.5
- Manufacturing 75.5 7.9 3.4 9.7
- Utilities 12.6 21.3 27.7 -15.1
Source: Statistics office        
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