Serbia: Industrial production continues to decline in September
October 31, 2018
According to data released by the Statistical Office of the Republic of Serbia, industrial production fell 1.2% over the same month last year in September, following the 4.3% decrease registered in August. The drop was driven by continued contractions in mining and quarrying output and electricity gas, steam and air conditioning generation, albeit at softer rates than in August. Manufacturing production, on the other hand, rebounded in the month.
Industrial production rose a seasonally-adjusted 3.1% on a month-on-month basis in September, contrasting August’s revised 1.0% fall (previously reported: -1.3% month-on-month). Meanwhile, annual average growth in industrial production slowed to an over one-year low of 2.9% in September from 3.6% in August.
Serbia Industrial Production Forecast
FocusEconomics Consensus Forecast panelists expect industrial production to expand 4.6% in 2019, which is down 0.1 percentage points from last month’s forecast and 5.0% in 2020.
Author: Lindsey Ice, Economist