Serbia Industry


Growth in industrial production remains buoyant in June

In June, industrial production jumped 18.6% over the same month last year. The print followed the 17.7% expansion tallied in the previous month and marked an all-time high. The improvement was mainly due to faster growth in mining and quarrying as well as in electricity, gas, steam and air conditioning. Conversely, manufacturing output expanded at a slower pace in June.

On a monthly basis, industrial production in June declined 1.2% in seasonally-adjusted terms, contrasting May’s 6.3% rise. As a result of the strong annual increase, the overall trend improved as annual average growth in industrial production rose from minus 5.4% in May to minus 3.1% in June, the highest reading in 10 months.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 2.2% in 2015, which is up 0.2 percentage points from last month’s estimate. In 2016, the panel sees industrial production growth at 3.6%.

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Serbia Industry Chart

Serbia Industry June 2015

Note: Year-on-year and annual average variation of industrial production index in %.
Source: Statistical Office of the Republic of Serbia (SORS).

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