Serbia Industry January 2017

Serbia

Serbia: Industrial production growth rebounds in January

February 28, 2018

Industrial production expanded 10.6% in January from the same month last year, a significant acceleration from December’s 0.5% year-on-year expansion.

According to the Statistical Institute, January’s improved reading was due to a broad-based improvement throughout industry. The manufacturing sector led the way with a 11.3% year-on-year expansion, up from a 0.4% increase in December. The second-fastest growth came from the mining and quarrying sector, with an improved 9.3% expansion compared to a 3.3% expansion in December. And the electricity, gas, steam and air conditioning supply sector experienced a turnaround in January, swinging from a 0.1% contraction in December to an 8.5% expansion.

In month-on-month terms, industrial production increased a seasonally-adjusted 2.7% in January, contrasting December’s 1.2% decrease. Annual average growth in industrial production rose from 3.4% in December to 4.3% in January.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 4.5% in 2018, which is up 0.1 percentage points from last month’s estimate. In 2019, the panel sees industrial production growth at 5.3%.


Author:, Economist

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Serbia Industry January 2018

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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