Serbia Industry October 2021


Serbia: Industrial output growth eases in October

October 30, 2021

Industrial output increased 0.9% year-on-year in October, which was down from September’s 1.4% increase. The reading was largely driven by softer growth in the mining and quarrying sector, and a stronger contraction in electricity, gas, steam and air conditioning production. Manufacturing output, on the other hand, fell at a softer clip.

On a seasonally-adjusted monthly basis, factory output rose 1.1% in October, contrasting the 1.1% drop recorded in September. Meanwhile, annual average industrial production growth fell to 5.5% in October (September: +5.6%), signaling a worsening trend in the industrial sector.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 4.2% in 2022, which is down 0.1 percentage points from last month’s estimate. In 2023, the panel sees industrial production rising 4.2%.


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Serbia Industry Chart

Serbia Industry October 2021

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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