Declining output in Q2 – Pandemic shook the prices, extractive industry collapses
The Producer Price Index reached the value of 99 points during the second quarter of the year, marking a decrease of 4.1%, compared to the same period a year earlier. Producer Price Index, in the second quarter of 2020, decreased by 2%, compared to the first quarter of 2020. Producer Price Index for Domestic Products, compared to the second quarter of 2019 decreased by 3.1%. The largest decrease was recorded by producer prices in the sections “Extractive industry” by 24.3% and “Electricity, gas, steam and air conditioning” by 2.3%.
Producer Price Index in the section “Extractive Industries”, in the second quarter of 2020, recorded a total decline of 32%. Within this section, the largest decrease in prices was recorded in the activity “Extraction of crude oil and natural gas” by 55.8%, with the largest impact in April.
Producer Price Index, in the section “Manufacturing” has increased by 0.2%, compared to the second quarter of 2019. Within this section prices have increased the most in the activity “Metallurgy” by 3.1%, followed with prices in the activity “Textile processing” by 2.6%.