Serbia: Industrial production declines in March after a brief recovery in February
Industrial production fell 2.8% over the same month a year prior in March, contrasting the 2.4% increase logged in February. The downturn came primarily on a sharp drop in manufacturing output, following its brief recovery in February. On the flip side, mining and quarrying, and electricity, gas, steam and air conditioning supply rebounded in March, offsetting the headline decline.
On a month-on-month seasonally-adjusted basis, industrial production shrank 1.6% in March, contrasting the upwardly revised 1.1% rise recorded in February (previously reported: +0.6% month-on-month). Meanwhile, annual average industrial production fell 0.5% in March, contrasting the 0.1% rise in February.