Serbia: Industrial production growth deteriorates in December
January 31, 2018
Industrial production expanded 0.5% in December from the same month last year, a significant deceleration from November’s 5.5% year-on-year expansion.
According to the Statistical Institute, December’s deteriorated reading was due to worse performances in the manufacturing sector, which slowed from year-on-year growth of 8.2% in November to 0.4 in December, and the mining and quarrying sector, which slowed from a year-on-year expansion of 5.0% in November to 3.3% in December. On the other hand, the performance of the electricity, gas, steam and air conditioning sector improved from a 4.3% contraction in November to a 0.1% contraction in December.
In month-on-month terms, industrial production decreased a seasonally-adjusted 1.2 in December, in contrast to November’s revised 1.1% expansion (previously reported: +1.2% month-on-month). Annual average growth in industrial production fell from 3.7% in November to 3.4% in December.
Author: Edward Gardner, Economist