Serbia Industry April 2019

Serbia

Serbia: Industrial production declines again in April

May 31, 2019

Industrial production fell 0.8% year-on-year in April, up from the 2.8% contraction logged in March. The downturn came on the back of a sharp decline in electricity, gas, steam and air conditioning supply, as well as a milder contraction in manufacturing output. On the other hand, mining and quarrying output grew robustly in the month, offsetting some of the headline decline.

On a month-on-month seasonally-adjusted basis, industrial production shrank 0.6% in April, up from the 2.3% fall recorded in February. Meanwhile, annual average industrial production fell 0.9% in April, down from the 0.5% decline logged in March.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 2.1% in 2019, which is down 0.3 percentage points from last month’s estimate. In 2020, the panel sees industrial production growth at 3.1%.


Author:, Economist

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Serbia Industry April 2019

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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