Consumption in North Macedonia
North Macedonia - ConsumptionAfter 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
|Consumption (annual variation in %)||4.4||3.9||2.1||3.7||3.5|
5 years of economic forecasts for more than 30 economic indicators.
Source: State Statistical Office
North Macedonia Facts
|Exchange Rate||54.86||-0.56 %||Jan 01|
|Stock Market||0.1||0.0 %||Jan 07|
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