Serbia: Industrial activity contracts at sharpest pace since May 2020 in January
Industrial output fell 2.6% in year-on-year terms in January, which contrasted December’s 3.3% increase. The outturn marked the steepest contraction since May 2020. The figure was chiefly driven by weaker mining and quarrying output growth. In addition, manufacturing output contracted.
On a monthly basis, industrial output dove 9.6% in seasonally-adjusted terms in January, contrasting December’s 0.7% expansion and marking the worst result since April 2020. Meanwhile, annual average industrial production growth fell to 5.7% in January (December: +6.1%). This signals a worsening trend in the industrial sector.