North Macedonia's manufacturing confidence indicator down by 8.8 pp y/y in January

North Macedonia's manufacturing confidence indicator down by 8.8 pp y/y in January
By bne IntelliNews February 15, 2021

The confidence indicator for North Macedonia's manufacturing sector dropped by an annual 8.8 percentage points (pp) to 13.8 points in January, after falling by 8.5 pp in the previous month, statistics office data indicated on February 15.

In monthly terms, it edged up 0.1 pp in the first month of 2021 after moving up 0.2 pp a month earlier.

The statistics office noted that the current volume of production orders in January 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 December, but was less satisfactory compared to January 2020. The number of employees is anticipated to decrease.

The average capacity utilisation level of the business entities rose to 69.4% of normal utilisation.

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

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