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.