North Macedonia’s industrial output turns to growth of 4.5% y/y in September
North Macedonia's industrial production turned to an annual growth of 4.5% in September, from a 5.1% decrease in the previous month (chart), statistics office data indicated on October 31.
The increase in industrial production during September can be attributed to higher output in manufacturing and mining industry, despite a decrease in the utility sector.
The industrial output in the manufacturing industry went up by 3.8% y/y in September, reversing a 5.5% drop in August.
The mining output jumped by 23.4% y/y, while in the utilities sector it fell by 10.1% y/y.
In the first nine months of the year, the output moved up by 0.7 %.
In 2022, industrial production edged down by 0.3% y/y after increasing 1.4% in 2021.
Despite lapse in demand, firms said to retain positive attitude on 12-month outlook for activity, which remained historically elevated. Inflationary pressures continued to retreat.
Industrial prices in Romania increased by 2.4% in September-October.
GDP also up by 0.2% quarter-on-quarter as trade surplus makes up for lower domestic demand.
Russian service providers recorded a modest expansion in business activity during November, according to the latest PMI survey from S&P Global, but the rate of growth slowed somewhat from October.
Largest number of jobs created in construction, IT&C and hospitality sectors.
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