Serbian town in the winter

Serbia Industrial production May 2023

Serbia: Industrial output growth rises in May

Industrial output expanded 1.5% year on year in May (April: +0.4% yoy). The improvement was spearheaded by a faster expansion in electricity, gas, steam and air conditioning supply output. Moreover, the downturn in manufacturing production eased.

On a monthly basis, factory output decreased 1.8% in seasonally adjusted terms in May, which was greater than April’s 1.5% fall and marking the worst result since July 2022. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 1.7% in May, down from April’s minus 1.2%.

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