Serbia Industry July 2021

Serbia

Serbia: Industrial output growth loses pace in July

August 31, 2021

Industrial output grew 1.7% in year-on-year terms in July, which was a deterioration from June's 4.4% increase. The outturn marked the worst reading since November 2020. Looking at the details of the release, mining and quarrying production, and electricity, gas, steam and air conditioning output swung from contractions to expansions. On the other hand, manufacturing production growth lost steam.

On a monthly basis, industrial production grew 1.0% in seasonally-adjusted terms in July, which was below June’s 2.0% expansion. Meanwhile, annual average industrial production growth rose to 6.2% in July (June: +6.1%), signaling an improving 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 July 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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