Serbia: Industrial output records lowest expansion since June in December
Industrial production rose 1.7% year on year in December (November: +3.6% yoy). December’s figure marked the worst reading since June. The deceleration was driven by a sharp contraction in mining and quarrying output, and a softer expansion in electricity, gas steam and air conditioning supply expanded. More positively, manufacturing output growth gained traction.
Meanwhile, the trend improved, with the annual average growth of industrial production coming in at an over one-year high of 0.8% in December, up from November’s 0.7%. On a monthly basis, industrial production grew 1.1% in seasonally adjusted terms in December, which was above November’s 0.5% expansion.