Serbia Industry

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Serbia: Industrial production decelerates in October

November 30, 2015

In October, industrial production expanded 7.8% over the same month last year. The print was down from the 13.8% increase tallied in the previous month and marked the slowest increase in six months. The reading mainly reflected a deceleration in manufacturing as well as in the mining and quarrying sector. Moreover, growth in electricity, gas stream and air conditioning grew slightly slower compared to the previous month.

On a monthly basis, industrial production in October expanded 0.6% in seasonally-adjusted terms, which contrasted the 2.5% decrease seen in September. As a result of the strong annual increase observed in the six months up to October, the overall trend improved as annual average growth in industrial production increased from 3.7% in September to 5.3% in October, the highest level in nearly two years.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 4.5% in 2015, which is up 0.5 percentage points from last month’s estimate. In 2016, the panel sees industrial production growth at 4.1%, which is up 0.2 percentage points from last month’s forecast.


Author:, Senior Economist

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Serbia Industry October 2015

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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