Serbia Industry May 2019


Serbia: Industrial production falls in May

June 28, 2019

Industrial production fell 0.6% over the prior year in May, following the 0.8% decline recorded in April. May’s decline was driven by a sharper drop in manufacturing production and weaker mining and quarrying output. On the upside, gas, steam and air conditioning supply recovered notably in May.

On a month-on-month seasonally-adjusted basis, industrial production rebounded to a four-month high of 1.3%, up from the 0.7% dip recorded in April. Meanwhile, annual average industrial production fell 0.9% in May, matching April’s decline.

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

Author:, Economist

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Serbia Industry Chart

Serbia Industry May 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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