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.
Author: Dirina Mançellari, Senior Economist