Serbia Industry September 2021

Serbia

Serbia: Industrial output growth improves in September

October 29, 2021

Industrial output increased 1.4% compared to the same month of the previous year in September, which was above August's 0.1% increase. September's reading was largely due to faster growth in mining and quarrying output. In contrast, electricity, gas, steam and air conditioning production weakened.

On a seasonally-adjusted monthly basis, factory output rose at a faster rate of 1.0% in September (August: +0.3% mom). Meanwhile, annual average industrial production growth fell to 5.6% in September (August: +5.8%), signaling a worsening trend in the industrial sector.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 6.3% in 2021, which is from last month’s estimate. In 2022, the panel sees industrial production rising 3.8%.


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Serbia Industry September 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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