Serbia Industry August 2021


Serbia: Industrial output growth softens in August

September 30, 2021

Industrial output grew 0.1% in year-on-year terms in August, which is down from July's 1.7% increase. The outturn marked the worst reading since November 2020. The print was driven by a marked drop in electricity, gas, steam and air conditions output, while growth in the mining and quarrying softened. Meanwhile, output growth in the manufacturing sector inched up.

On a monthly basis, industrial production grew 0.3% in seasonally-adjusted terms in August, which is below July’s 1.3% expansion. Meanwhile, annual average industrial production growth eased form 6.2% in July to 5.8% in August, 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 Chart

Serbia Industry August 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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