August manufacturing price index slows down


The producer prices index (PPI) for manufacturing declined by 5.9 percent in August compared to same time last year, while it went up on a monthly basis from negative 1.2 percent in July to 1.3 percent in August 2013, according to data from the National Statistics Office (NSO).

In the producer price index data released on Friday by NSO, the annual PPI slowdown was caused by the decline of 10 major manufacturing groups led by furniture and fixtures with a 44.5-percent decrease.

Despite the 10 sectors posting decline for the whole year, the NSO said that two sectors that posted double-digit negatives were rubber and plastic products with negative 12.3 percent, and basic metals with negative 11.9 percent.

“On the other hand, 10 sectors posted increases led by printing sector [8.4 percent],” NSO said, listing other top gainers such as beverages (5.5 percent), miscella-neous manufactures (5.2 percent) and footwear and wearing apparel (4.4 percent), among others.

“On a monthly basis, PPI went up to 1.3 percent in August from negative 1.2 percent in July.

Fourteen major sectors contri-buted to the increase led by petroleum products [5.1 percent]. On the other hand, three sectors posted flat growths while three sectors reflected decrements,” the NSO said, referring to the increase of the majority of the sectors—from negative to 1-percent rates in July to the 1-percent to 5-percent improvement in August.


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