Serbia: Industrial production loses steam in July
July 31, 2017
Industrial production grew 4.2% in July compared to the same month last year, losing momentum from June’s 5.7% expansion. Breaking this result down, two of the three sectors decelerated compared to June. The most notable slowdown was in the mining and quarrying sector, which grew only slightly (+3.2% year-on-year) compared to last month’s robust expansion (June: +16.7% yoy). Manufacturing posted modest growth (+4.5% yoy), but decelerated from a strong June print (+6.0% yoy). The electricity, gas, steam and air conditioning sector was the only sector to accelerate, as growth came in flat in June (July: +3.1% yoy).
In monthly terms, industrial production grew by a seasonally-adjusted 0.1% in July. Annual average growth in industrial production grew from 2.6% in June to 2.9% in July.
Author: Lindsey Ice, Economist