Industrial production in Macedonia fell 5.1 percent year-on-year in December 2019, following a 2.1 percent decrease in the previous month. It was the second straight monthly decline in industrial activity and the sharpest since August 2007. Output dropped faster for both electricity, gas, steam and air conditioning supply (-12.1 percent vs -9.6 percent in November) and mining and quarrying (-24.2 percent vs -11.9 percent). In addition, manufacturing production slumped 3.1 percent, after increasing 0.7 percent in the prior month. For full 2019, industrial output advanced 3.7 percent, slowing from a 5.4 percent gain in 2018.
Industrial Production in Macedonia averaged 2.10 percent from 2005 until 2019, reaching an all time high of 24.50 percent in March of 2011 and a record low of -14.50 percent in June of 2009. This page provides - Macedonia Industrial Production - actual values, historical data, forecast, chart, statistics, economic calendar and news.
Industrial Production in Macedonia is expected to be 4.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Macedonia to stand at 3.30 in 12 months time. In the long-term, the Macedonia Industrial Production is projected to trend around 3.30 percent in 2021 and 2.50 percent in 2022, according to our econometric models.