Serbian town in the winter

Serbia Industrial production May 2024

Serbia: Industrial activity dips in May

Industrial output slid 1.1% in year-on-year terms in May, which contrasted April’s 2.9% increase. The deterioration was driven by a downturn in manufacturing production. On the flip side, mining and quarrying output expanded at a faster clip.

On a seasonally adjusted monthly basis, industrial production rose at a quicker rate of 2.7% in May (April: +0.7% mom), the best result since March 2023. Meanwhile, annual average industrial production growth rose to 1.5% in May (April: +1.1%), which marked an over two-year high.

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