Serbia Industry October 2020

Serbia

Serbia: Industrial output growth eases in October

December 2, 2020

Industrial output rose 1.9% compared to the same month a year earlier in October, which was a deterioration from September's 4.6% increase. The reading came on the back of softer manufacturing output. Meanwhile, mining and quarrying production improved.

On a seasonally-adjusted monthly basis, industrial output rose 0.3% in October (September: -0.6% mom). Meanwhile, annual average industrial production growth rose to 0.9% in October (September: +0.8%), signaling an improving trend in the industrial sector.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 3.9% in 2021, which is up 0.6 percentage points from last month’s estimate. In 2022, the panel sees industrial production rising 3.5%.


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Serbia Industry October 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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