Serbia Industry June 2016


Serbia: Industrial production deteriorates in June

July 29, 2016

In June, industrial production contracted 2.2% over the same month of last year. The print contrasted the 0.9% increase seen in the previous month and tallied the steepest decrease since February 2015. The reading reflected a deceleration in the mining and quarrying sector as well as in the electricity, gas, steam and air conditioning sector.

On a monthly basis, industrial production in June contracted 0.9% in seasonally-adjusted terms, thus improving over the 5.2% decrease observed in May. The overall trend deteriorated as annual average growth in industrial production decreased from 10.8% in May to 9.0% in June, the lowest reading since December 2015.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 4.3% in 2016, which is up 0.3 percentage points from last month’s estimate. In 2017, the panel sees industrial production growth at 4.4%.

Author:, Senior Economist

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Serbia Industry Chart

Serbia Industry June 2016 3

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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