Industrial production in Macedonia increased 6.4 percent year-on-year in October 2018, following a 4.5 percent gain in the previous month. Output advanced faster for mining & quarrying (12.9 percent from 4.7 percent in September) and manufacturing (6.0 percent from 3.6 percent), namely production of food & beverages; textiles; basic pharmaceutical products & preparations; other non-metallic mineral products; basic metals; electrical equipment; machinery & equipment; motor vehicles, trailers & semi-trailers and furniture. On the other hand, electricity, gas, steam & air conditioning supply went up at a softer pace (7.0 percent from 19.2 percent). Considering the January to October period, industrial activity rose 5.2 percent. Industrial Production in Macedonia averaged 1.85 percent from 2005 until 2018, 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 4.80 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 6.20 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.