Industrial production in Macedonia increased 5.5 percent year-on-year in April of 2019, easing from a 7.5 percent rise in the previous month. It was the smallest gain in industrial activity since November 2018, as output slowed for manufacturing (4.5 percent vs 8.8 percent in March) and mining & quarrying (3.5 percent vs 10.8 percent). On the other hand, electricity, gas, steam & air conditioning supply rebounded (18.6 percent vs -4.6 percent). Considering the January to April period, industrial activity rose 7.9 percent. Industrial Production in Macedonia averaged 2.11 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.
Industrial Production in Macedonia is expected to be 6.40 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 5.80 in 12 months time. In the long-term, the Macedonia Industrial Production is projected to trend around 2.50 percent in 2020, according to our econometric models.