Serbia: Industrial production growth rebounds in January
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.