Serbia: Industrial output falls in September

Industrial production fell 0.3% year on year in September, contrasting August’s 0.3% expansion. This was driven by a contraction in manufacturing output, and flatlining growth in the production of electricity, gas, steam and ai conditioning supply. Meanwhile, annual average industrial production growth inched down to 2.4% in September from 2.5% in August.

Lastly, industrial output expanded 1.30% on a monthly basis in September, swinging from August’s 1.00% contraction.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 2.8% in 2023, which is up 0.1 percentage points from last month’s estimate. In 2024, the panel sees industrial production rising 3.9%.