Industry grows just by 2.2% growth, the lowest since the beginning of the year

The industrial production index (IPI), the turnover index in “Retail trade, except of motor vehicles and motorcycles" and the production index in the construction branch reported consecutive declines in June, compared to May, shows data of the National Statistical Institute (NSI), released yesterday. Industrial production decreased by 1.5%, compared to a month earlier, the turnover in retail trade fell by 0.6% and construction production was dawn by 0.5%.

The statistics are slightly better on an annual basis, however, since in June, the IPI rose by 2.2% over the corresponding month of 2010. This is the slowest annual growth recorded since the beginning of the year. In May, the increase was much more substantial - by 7.8%, compared to May 2010; in April it reached 9.4%, and in March - 5.1%. In February 2011, the IPI increased by 15.2% over the corresponding month of 2010 and in January - by 9.3%, according to a report of Klassa based on NSI data.

In June, a rise in the industrial production in the processing industry was reported - by 4.5%, while a decrease was noted in the mining industry - by 5.4% and in the production and distribution of electricity, heat and gas - by 2.8%, on an annual basis.

In June, the decline in the turnover of the retail trade and construction output continued on annual basis, by 0.8%, and 2.6% respectively. In June 2011, the decrease in the construction output was mainly determined by the negative growth in the construction of civil engineering works where the recorded decline was 21.5%, while the output of the construction of buildings was down by 4.4%, reported by the NSI.

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