The annual growth of Macedonia's industrial sales accelerated to 21.9% in June from 9.5% in May on the back of improved performance in both manufacturing and mining, statistics office data showed.
Manufacturing sales surged 23.7% y/y in June, after growing 12% y/y the month before. In addition, the annual contraction in mining narrowed to 11.6% from 28.4% in May.
Compared to the previous month, industrial sales increased 6.4% in June.
We note that Macedonia's industrial output grew 4.9% y/y in June, slowing down from a 9.7% y/y rise in May.
In June, industrial sales on the domestic market accounted for 23.2% of the total and contracted by 6.8% y/y. Sales abroad, which had a 76.8% share, grew 34.4% y/y.
The June breakdown across the main industrial groupings shows positive annual growth in intermediate goods except energy (up 0.7%), capital goods (up 94%) and non-durable consumer goods (up 5.2%). Sales fell y/y in energy (down 86.1%) and durable consumer goods (down 15.8%).
In H1 2014, total industrial sales rose 12.3% y/y.
|Industrial sales, % y/y|
|- Domestic turnover||3.6||-6.8||-13.7|
|- Non-domestic turnover||11.8||34.4||23.4|
|- Mining and quarrying||-28.4||-11.6||-11.2|
|Main industrial groupings|
|- Intermediate goods industries, except energy||-3.5||0.7||3.6|
|- Capital goods industries||32.9||94.0||56.5|
|- Durable consumer goods industries||-0.1||-15.8||-3.0|
|- Non-durable consumer goods industries||7.3||5.2||1.1|
|Source: Statistics office|
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