EAI Declines Month By Month

EAI DECLINES MONTH BY MONTH

Business – Friday, 20 September 2013, 14:03

The pace of economic growth is slowing down although the government
hopes for a 7-9% growth by the end of the year. According to rapidly
collected date of the National Statistics Service, the economic
activity index in January-August was 3.8% compared with the same
period last year. The economic activity index is dropping month by
month. In January-July, compared with the same period of last year,
the EAI totaled 4%, in January-June 4.4% compared with the same period
last year, 5.3% compared with the same period of last year, and 8.7%
compared with the same period of last year. In January-August the
industrial output grew by 6.2%, gross agricultural output grew by
7.1%, trade 2.5%, services 3.2%, foreign trade 2.8%. An 8.5% decline
was reported in building, electricity generation dropped by 4.5%.

Salaries are not adjusted to inflation: In the abovementioned period
the average monthly wage increased by 3.7%. Inflation was at 5.3%.

From: A. Papazian