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2.8.4 Industrial production
North Macedonia's industrial output declined for the fourth consecutive
month in October 2021 by an annual 6.5%, narrowing from the 8%
decrease in the previous month.
Industrial production fell from July to October 2021 after four months of
growth. The biggest annual increase in industrial output was in April
2022, when it jumped 46.1%, due to the low base effect.
North Macedonia’s domestic industrial producer price index (PPI)
increased by an annual 13.7% in October, speeding up from a 10.6%
y/y growth in the previous month
The annual growth was driven by the PPI increase in all sectors. The
PPI started to grow rapidly since February 2021. Prices in the key
manufacturing sector rose by 9.8% year on year in October, in the
mining sector prices jumped by 13.7% y/y and soared by 33.5% in the
utilities sector.
In the first ten months, the PPI was higher by 7.2%.
56 SE Outlook 2022 www.intellinews.com
