Serbian town in the winter

Serbia Industrial production November 2023

Serbia: Industrial output growth speeds up in November

Industrial output grew 3.6% in year-on-year terms in November, which was above October’s 3.0% increase. The improvement was driven by a sharp acceleration in electricity, gas, steam and air conditioning supply. On the flip side, manufacturing production growth softened, while mining output was unchanged.

Meanwhile, the trend improved sizably, with the annual average variation of industrial production coming in at 0.7% in November, contrasting October’s minus 0.1% reading. On a monthly basis, industrial production rose 0.4% in seasonally adjusted terms in November, matching October’s expansion.

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