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.
Author: Dirina Mançellari, Senior Economist