Serbia: Industrial production decelerates again in May

In May, industrial production expanded a weak 0.9% over the same month of last year. The print was well down from the 8.4% increase tallied in the previous month. The reading reflected a deceleration across-the-board.

On a monthly basis, industrial production in May contracted 5.4% in seasonally-adjusted terms, which contrasted the 4.0% increase observed in the previous month. The overall trend deteriorated as annual average growth in industrial production decreased from 12.2% in April to 10.8% in May, the lowest reading in three months.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 4.0% in 2016, which is up 0.1 percentage points from last month’s estimate. In 2017, the panel sees industrial production growth at 4.2%.