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.
Author: Dirina Mançellari, Senior Economist