Macedonia Economic Outlook
June 4, 2019Although comprehensive GDP figures have yet to be released, the economy likely performed fairly well in the first quarter. Industrial production growth strengthened, while export growth was brisk thanks to healthy EU demand. However, both wage and retail sales growth dipped compared to Q4, hinting at a potential slowdown in private consumption. Turning to the first month of the second quarter, industrial production maintained its strong momentum, although retail sales growth ebbed further. On the political front, in late May the European Commission recommended that the European Council open accession talks with North Macedonia. This could potentially occur as soon as the June Council meeting, although some EU members are likely to have reservations.
North Macedonia Economic GrowthThe economy should accelerate in 2019, spearheaded by a recovery in investment. On the upside, potential progress on the EU-accession agenda could improve the business climate; on the downside, a slowdown in the EU will likely dampen the external sector. FocusEconomics panelists expect GDP to expand 3.1% in 2019, which is up 0.1 percentage points from last month’s forecast, and 3.2% in 2020.
North Macedonia Economy Data
5 years of North Macedonia economic forecasts for more than 30 economic indicators.
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North Macedonia Facts
|Exchange Rate||54.55||-0.56 %||Jun 13|
|Stock Market||0.1||0.0 %||Jun 13|
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