Macedonia’s industrial PPI down 3.8% y/y in December

By bne IntelliNews January 13, 2015

Macedonia's industrial producer prices decreased by 3.8% y/y in December after rising by 0.6% y/y in November, reflecting a much deeper price decline in manufacturing and slower price growth in utilities and mining, statistics office data showed. Last year, the annual growth of industrial PPI has been positive in only three months – August, October and November. As a result, the index was 1.2% lower on average in 2014. Compared to the previous month, prices were 3.7% lower in December.

Prices in manufacturing went down 6.1% y/y in December, after contracting by 0.9% y/y in November. Within manufacturing, the highest price increase was recorded in other non-metallic mineral products (+6.1% y/y in December). On the other hand, the deepest decline was reported in the manufacturing of coke and refined petroleum products (-21.8% y/y).

In addition, producer prices in utilities grew 6.2% y/y in December, slowing down from a 7.4% y/y rise the month before. In mining, prices rose 10.4% y/y last month, easing from a 10.5% y/y growth in November.

In terms of industrial groups, December producer prices were higher y/y in durable consumer goods (+2.5%) and intermediate goods except energy (+0.5%). Producer prices fell y/y in energy (-9%), capital goods (-6%) and non-durable consumer goods (-1.2%).

Industrial PPI, % y/y      
  Nov'14 Dec'14 2014
PPI  0.6 -3.8 -1.2
Main Industrial Groups      
- Energy 3.0 -9.0 -1.0
- Intermediate goods except energy 0.5 0.5 0.2
- Capital goods -7.5 -6.0 -2.5
- Durable consumer goods 0.7 2.5 0.7
- Non-durable consumer goods -1.2 -1.2 -2.0
- Mining and quarrying 10.5 10.4 9.2
- Manufacturing -0.9 -6.1 -2.0
- Utilities 7.4 6.2 1.1
Source: Statistics office      

Related Articles

Kazakhstan's CAML takes over Macedonian Lynx in $402.5mn mining deal

Kazakhstan-based copper producer Central Asia Metals (CAML) said on September 22 it has conditionally agreed to acquire 100% interest in Lynx Resources Limited, the owner of the SASA zinc-lead mine ... more

October local elections to test Macedonia's fragile political stability, IMF warns

The International Monetary Fund (IMF) said on September 18 it expects the Macedonian economy to slow down to moderate growth of 1.9% in 2017 due to the prolonged political uncertainty. The fund ... more

Macedonia's GDP growth to revive in H2 after political crisis "took its toll" on economy, S&P says

Standard and Poor’s (S&P) rating agency has affirmed its long- and short-term foreign and local currency sovereign credit ratings on Macedonia at 'BB-/B' with stable outlook, the agency said on ... more