Serbia: Industrial output growth eases in October
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.