Serbia Industry


Serbia: Industrial production expands in September at double-digit rate for fifth consecutive month

November 2, 2015

In September, industrial production expanded 13.8% over the same month last year. The print was slightly up from the 12.9% increase tallied in the previous month and marked the fifth consecutive month of rates above 10.0%. The reading mainly reflected an acceleration in manufacturing as well as in the mining and quarrying sector. Conversely, growth in electricity, gas stream and air conditioning slowed compared to the previous month.

On a monthly basis, industrial production in September declined 2.4% in seasonally-adjusted terms, coming in below August’s 0.6% drop. As a result of the strong annual increase observed in the five months up to September, the overall trend improved as annual average growth in industrial production jumped from 1.3% in August to 3.7% in September, the highest level in over a year.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 1.8% in 2015, which is unchanged from last month’s estimate. In 2016, the panel sees industrial production growth at 3.3%.

Author:, Senior Economist

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Serbia Industry Chart

Serbia Industry September 2015

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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