Serbia: Industrial output growth gains steam in May
Latest reading: Industrial production expanded 4.4% year on year in May (April: +2.3% yoy). The improvement was driven by stronger increase in manufacturing production. That said, mining output and electricity, gas steam and air conditioning supply lost traction.
Meanwhile, the trend improved notably, with the annual average variation of industrial production coming in at 0.4% in May, contrasting April’s minus 0.3%. On a monthly basis, industrial production was stable in seasonally adjusted terms in May, which was better than April’s 0.2% fall.