Serbia: Industrial activity contracts at sharpest rate since May in November
January 29, 2021
Industrial production grew 4.1% year-on-year in December, swinging from the 1.4% contraction in November. December’s print marked the best result in three months and was driven by robust growth in the manufacturing sector, which more than offset a drop in mining and quarrying output.
On a seasonally-adjusted monthly basis, factory output increased at a six-month high of 3.5% in December, contrasting the 2.6% fall in November.
Meanwhile, the trend pointed down as annual average growth of industrial output came in 0.4% in December, down from November’s 0.7%.