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FYROM: Another Reduction of Industrial Production by 5.6% in September.

November 2, 2012

During September the reduction of industrial production in fYROM continued for the 13th continuous month, with the general index falling by 5.6% compared to the index of September 2011.

According to the data given by the Statistical Service of the country, the fall of production is due mainly to the reduction of the index of manufacturing industries by 6.8%.

On the contrary an augmentation of the index of the produce of mines & quarries was noted, rising by 3.3% and of the index of distribution of electrical energy and natural gas, by 3.1%.

On average the index of industrial production was reduced by 6.9% in the period January-September 2012, compared to the same index of the period January-September 2011.

Economic analysts in Skopje estimate that the downward trend of the industrial production will continue during the coming months, something that, according to them, will force factories to reduce the number of their workers.

The fall of the industrial production for more than a year and the continued reduction of the exports of the country are considered to be the two main reasons for the shrinking of the economy of fYROM.

It should be remembered that the economy of fYROM has entered a recession, given that the rhythm of development of the GNP was negative for a second continuous trimester.

According to the data announced by the Statistical Service of the country, during the second trimester of 2012 the rhythm of development of the GNP was about -0,9%, following the -1,4% of the first trimester of the year.

 

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