Serbia Industry July 2016


Serbia: Industrial production improves in July

August 31, 2016

In July, industrial production expanded 0.7% over the same month of last year, contrasting the 2.2% decrease seen in June. The figure reflected an improvement in the mining and quarrying sector, which rebounded strongly in July. Growth in manufacturing accelerated while the electricity, gas, steam and air conditioning sector contracted less.

On a monthly basis, industrial production in July expanded 1.4% in seasonally-adjusted terms, improving over June’s 0.4% increase. Finally, annual average growth in industrial production decreased from 9.0% in June to 8.0% in July, the lowest reading since November 2015.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 4.3% in 2016, which is up 0.3 percentage points from last month’s estimate. In 2017, the panel sees industrial production growth at 4.4%.

Author:, Senior Economist

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