North Macedonia's manufacturing confidence indicator down by 8.5 pp y/y in December

North Macedonia's manufacturing confidence indicator down by 8.5 pp y/y in December
By bne IntelliNews January 15, 2021

The confidence indicator for North Macedonia's manufacturing sector fell by an annual 8.5 percentage points (pp) to 13.7 points in December, after dropping by 8.6 pp in the previous month, statistics office data indicated on January 15.

In monthly terms, it edged up 0.2 pp in the last month of 2020 after moving down 0.3 pp a month earlier.

The statistics office noted that the current volume of production orders in December 2020 is more favorable compared to the previous month. Expectations for the next three months are also more favourable, while the stocks of finished goods have increased.

The estimation of the economic situation is more satisfactory compared to November, but was less satisfactory compared to December 2019. The number of employees is anticipated to increase.

The average capacity utilisation level of the business entities rose to 69.2% of normal utilisation.

The factors that affected the production volume were insufficient foreign and domestic demand, the insecure economic environment and insufficient skilled workers.

Data

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