Serbia: Industrial activity contracts at sharpest rate since May in November
January 4, 2021
Industrial output decreased 1.4% in year-on-year terms in November, which contrasted October's 1.9% increase. November's result marked the steepest drop since May. November's notable downturn largely reflected a deterioration in electricity, gas, steam and air conditioning and manufacturing output. However, mining and quarrying output rose.
On a seasonally-adjusted monthly basis, factory output fell 2.0% in November (October: +0.2% mom), the worst result since April. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at plus 0.7% in November, down from October's 0.9% reading.