Serbia: Industrial output improves in June
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.