Serbia: Industrial output drops again in May
June 30, 2020
Industrial production dropped 9.3% year-on-year in May (April: -16.6% yoy), according to a preliminary estimate.
Looking at the details of the release, mining and quarrying production decreased at a sharper rate in May, while the drop in electricity, gas, steam and air conditioning output worsened. Meanwhile, manufacturing output declined at a softer rate.
On a monthly basis, industrial production rose 10.1% in seasonally-adjusted terms in May, rebounding from April’s 16.4% fall and marking the best result since March 2012. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 0.2% in May, contrasting April's plus 0.5%.