Industrial production in Macedonia increased 2.9 percent year-on-year in the second quarter of 2019, easing from a 5.4 percent rise in the previous period. Output advanced at a softer pace for manufacturing (3.1 percent vs 6.1 percent in Q1) and electricity, gas, steam and air conditioning supply (2.7 percent vs 6.4 percent). On the other hand, mining & quarrying production dropped less (-3.5 percent vs -4.4 percent) while water supply & sewerage production rose faster (13.9 percent vs 5.3 percent). Industrial Production in Georgia averaged 12.38 percent from 2000 until 2019, reaching an all time high of 35.10 percent in the fourth quarter of 2007 and a record low of -5 percent in the fourth quarter of 2009.
Industrial Production in Georgia is expected to be 6.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Georgia to stand at 6.00 in 12 months time. In the long-term, the Georgia Industrial Production is projected to trend around 4.00 percent in 2020, according to our econometric models.