Serbian town in the winter

Serbia GDP Q1 2023

Serbia: GDP growth accelerates in Q1 but remains subdued

According to a preliminary reading, GDP growth improved moderately to 0.7% year on year in the first quarter, from 0.4% in the fourth quarter of last year.

Data for Q1 points to a slowdown in private spending as a result of monetary tightening and still high inflation denting real disposable income. In contrast, industrial activity expanded. Moreover, the external sector performed well, with a strong export performance and relative flattish imports in annual terms.

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