Serbia: Industrial production falters in August
September 28, 2018
According to data released by the Statistical Office of the Republic of Serbia, industrial production fell 4.3% over the same month last year, contrasting the 1.7% increase recorded in July and ending an over one-year run of consecutive expansions. The drop came on the back of broad-based declines in output. The mining and quarrying; and electricity, gas, steam and air conditioning sectors both experienced sharp double-digit contractions, while manufacturing output also declined, albeit at a much softer pace.
On a month-on-month basis, industrial production decreased a seasonally-adjusted 1.3% in August, following July’s revised 3.7% fall (previously reported: -2.8% month-on-month). Meanwhile, annual average growth in industrial production tumbled from 4.6% in July to 3.6% in August.
Serbia Industrial Production Forecast
FocusEconomics Consensus Forecast panelists expect industrial production to expand 4.5% in 2018, which is up 0.1 percentage points from last month’s forecast and 5.0% in 2019, which is also up 0.1 percentage points from last month’s forecast.