Serbia Industry September 2020


Serbia: Industrial output grows at fastest pace since February in September

October 30, 2020

Industrial output increased 4.6% in year-on-year terms in September, which was above August's 4.2% rise and marked the strongest expansion since February. The result was largely driven by accelerating manufacturing production growth. In contrast, mining and quarrying output growth lost steam compared to the previous month.

On a monthly basis, factory output dropped 0.6% in seasonally-adjusted terms in September, contrasting August’s 3.5% expansion and marking the worst result since April. Meanwhile, annual average industrial production growth rose to 0.8% in September (August: +0.6%), which marked a six-month high.

FocusEconomics Consensus Forecast panelists expect industrial production to decrease 4.0% in 2020, which is up 1.1 percentage points from last month’s estimate. In 2021, the panel sees industrial production rising 3.5%, which is down 0.7 percentage points from last month’s estimate.


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Serbia Industry Chart

Serbia Industry September 20 20

Note: Year-on-year and annual average variation of industrial production index in %.
Source: Statistical Office of the Republic of Serbia (SORS).

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