Macedonia’s industrial output rises 9.5% y/y in December 2013

By bne IntelliNews January 28, 2014

Macedonia's industrial production volume index increased by 9.5% y/y in December, accelerating from the 3.1% y/y growth in November on the back of improved performance in all three sections - manufacturing, mining and utilities, according to data of the statistics office.

Industrial production grew by 3.2% in full 2013.

The manufacturing output rose by 13.1% y/y in December, speeding up from the 7.1% y/y increase in November. The strongest increase in production was registered in manufacturing of other machinery and equipment (up 73.4% y/y), while the manufacturing of coke and refined petroleum products recorded the largest drop - of 99.7% y/y.

Mining output fell 4.2% y/y in December, which was slower that November's 15.8% y/y decline. The output in utilities rose by 1.9% y/y, reversing a 2.6% y/y decline in November.

The industrial production increased by 6.9% y/y in October 2013. Thus, the sector’s performance has been quite strong in the last quarter of 2013, which bodes well for the GDP growth in the period.

Industrial production volume indices, % y/y      
  Nov'13 Dec'13 Jan-Dec'13
TOTAL INDUSTRIAL OUTPUT 3.1 9.5 3.2
Energy -9.1 -7.1 0.4
Intermediate goods industries, except energy 10.6 4.8 -0.8
Capital goods industries 0.1 43.8 9.0
Durable consumer goods industries 11.9 4.3 6.2
Non-durable consumer goods industries 2.4 14.2 6.3
Mining and quarrying -15.8 -4.2 3.4
Manufacturing  7.1 13.1 2.8
Utilities -2.6 1.9 5.3
Source: Statistics office      
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