Consumption in North Macedonia

North Macedonia Consumption | Economic News & Forecasts

North Macedonia - Consumption

After growth moderated in Q4 2021, the economy likely cooled further in the first quarter of 2022. Industrial output volume in January–March averaged higher than in the previous quarter, thanks to a rebound in manufacturing activity in March. Moreover, a 16.8% increase in industrial turnover on the non-domestic market in Q1 pointed to robust foreign demand. That said, declining employment levels within the industrial sector and spikes in consumer prices likely dampened household spending. Retail sales growth also averaged at the lowest level in a year, further suggesting weaker private consumption. In Q2, a record-high inflation rate is eroding real disposable incomes and consumer confidence, boding poorly for spending. In addition, the war in Ukraine and lingering supply shocks should be weighing on industrial activity amid rising global commodity prices, input shortages and logistical delays.

North Macedonia - Consumption Data

2015   2016   2017   2018   2019  
Consumption (annual variation in %)4.4  3.9  2.1  3.7  3.5  

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Note: Private Consumption, annual variation in %.
Source: State Statistical Office

North Macedonia Facts

Value Change Date
Exchange Rate54.86-0.56 %Jan 01
Stock Market0.10.0 %Jan 07

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