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.
Author: Dirina Mançellari, Senior Economist