Serbia: Growth in industrial output slows in April
Industrial production expanded 3.1% in April from the same month last year, a moderation from March’s 4.1% increase but the twelfth consecutive month of expansion.
According to the Statistical Institute, April’s slowdown reflected more moderate growth in most industrial sectors. The electricity, gas, steam and air conditioning supply sector expanded 13.0% in annual terms, below the 21.6% expansion recorded in March. Mining and quarrying grew 1.7%, substantially below March’s 9.2% increase. Lastly, manufacturing output expanded 1.0% year-on-year (March: 0.0% year-on-year).
In month-on-month terms, industrial production contracted a seasonally-adjusted 1.7% in April, a swing from March’s revised 0.6% expansion (previously reported: +0.9% month-on-month). Annual average growth in industrial production rose to 5.4% in April from 5.0% in March.