Industrial production in Macedonia rose 12.0 percent year-on-year in January of 2019, following a 7.9 percent increase in the previous month. It was the biggest gain in industrial output since June 2018, as production continued to grow solidly for electricity, gas, steam & air conditioning supply (50.8 percent compared to 20.0 percent in December 2018). Meantime, output advanced at a softer pace for manufacturing (4.0 percent compared to 6.1 percent). On the other hand, mining & quarrying production fell (-2.2 percent compared to 4.6 percent). Industrial Production in Macedonia averaged 2 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 6.50 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 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.