Serbia: Industrial production continues to falter in January

According to data released by the Statistical Office of the Republic of Serbia, industrial production fell 5.5% over the same month last year in January, following December’s 6.3% plunge and marking the third consecutive month of falling production. The mining and quarrying, and electricity, gas, steam and air conditioning sectors posted sharper contractions in January, while manufacturing output fell at a softer pace compared to December.

On a month-on-month basis, industrial production rose a seasonally-adjusted 3.2% in January, markedly contrasting the 4.4% fall logged in December. Meanwhile, annual average growth in industrial production tumbled to 0.1% in January, from 1.5% in December.

Serbia Industrial Production Forecast

FocusEconomics Consensus Forecast panelists expect industrial production to expand 4.4% in 2019, which is down 0.4 percentage points from last month’s forecast and 4.4% again in 2020.