Serbia: Industrial output expands at fastest pace since February in July
Industrial production grew 4.6% year on year in July (June: +2.0% yoy). July’s print marked the best reading since February. The improvement was due to an acceleration in manufacturing output growth. On the flip side, mining and quarrying output lost steam, while electricity, gas, steam and air conditioning supply fell at a sharper rate.
On a monthly basis, factory output decreased 1.0% in seasonally adjusted terms in July, contrasting June’s 0.7% expansion. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 1.7% in July, down from June’s 1.9% reading.