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 | |||
| May'14 | Jun'14 | Jan-June'14 | |
| TOTAL | 9.5 | 21.9 | 12.3 |
| - Domestic turnover | 3.6 | -6.8 | -13.7 |
| - Non-domestic turnover | 11.8 | 34.4 | 23.4 |
| Sections | |||
| - Mining and quarrying | -28.4 | -11.6 | -11.2 |
| - Manufacturing | 12.0 | 23.7 | 13.6 |
| Main industrial groupings | |||
| - Energy | -97.5 | -86.1 | -96.0 |
| - 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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