Consumption in North Macedonia

North Macedonia Consumption | Economic News & Forecasts

North Macedonia - Consumption

Economic conditions seemingly improved in Q2, after GDP shrank at a somewhat sharper pace in Q1. Retail sales rose strongly year-on-year in the quarter, hinting at firming household spending, while a sharp bounce-back in industrial production points to healthier private sector activity. Meanwhile, merchandise exports and tourist arrivals also jumped compared to Q2 2020. That said, all indicators benefited from an extremely low base effect. The recovery in activity should have carried over into Q3, albeit at a more moderate pace, as suggested by softer but still-healthy growth in retail sales in July. Fiscal data for January-July, which shows the budget deficit narrowed considerably from 2020, is a further sign of recovery. Meanwhile, on 23 August S&P Global Ratings affirmed the country’s credit rating at BB-, highlighting the stability of its banking system.

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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