Serbia Industrial production June 2020

Serbia

Serbia: Industrial output improves in June

July 31, 2020

Industrial output grew 2.6% in year-on-year terms in June, which contrasted May's 9.3% decrease.

June's notable rebound was driven by a return to growth in manufacturing output, while less pronounced contractions in mining and quarrying; and electricity, gas, steam and air conditioning output also supported the reading.

On a seasonally-adjusted monthly basis, industrial output rose at a softer rate of 9.5% in June (May: +10.8% mom). Meanwhile, the trend improved significantly, with the annual average variation of industrial production coming in at plus 0.5% in June, contrasting May's minus 0.2% reading.

FocusEconomics Consensus Forecast panelists expect industrial production to decrease 5.9% in 2020, which unchanged from last month’s estimate. In 2021, the panel sees industrial production rising 3.9%.


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Serbia Industry June 20 20

Note: Year-on-year and annual average variation of industrial production index in %.
Source: Statistical Office of the Republic of Serbia (SORS).


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