Serbia Industry


Serbia: Industrial production improves in November

December 30, 2015

In November, industrial production expanded 11.7% over the same month last year. The print was up from the 7.8% increase tallied in the previous month, which had marked the slowest increase in six months. The reading mainly reflected an acceleration in mining and quarrying as well as in manufacturing.

On a monthly basis, industrial production in November expanded 2.2% in seasonally-adjusted terms, which was an improvement over the 0.5% increase seen in October. As a result of the strong annual increase observed in the seven months up to November, the overall trend improved as annual average growth in industrial production increased from 5.3% in October to 7.0% in November, the highest level on record.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 4.5% in 2016, which is up 0.5 percentage points from last month’s estimate. In 2017, the panel sees industrial production growth at 4.1%.

Author:, Senior Economist

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Serbia Industry Chart

Serbia Industry November 2015

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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