Serbia Industry March 2017


Serbia: Industrial production picks up in March

April 28, 2017

Industrial production expanded 0.9% from the same month a year earlier in March, contrasting February’s 1.7% contraction. A breakdown of the print shows that the manufacturing sector recorded robust gains, while contractions in the mining and quarrying and electricity, gas, steam and air conditioning sectors significantly worsened in March and dragged on the result.

A sequential comparison showed that industrial production contracted by a seasonally-adjusted 1.8% in March from a month earlier, contrasting February’s revised 2.4% rise (previously reported: +1.7% month-on-month). Annual average growth in industrial production fell from 3.0% in February to 2.4% in March.

FocusEconomics Consensus Forecast panelists expect industrial production to expand 4.8% in 2017, which is unchanged from last month’s estimate. In 2018, the panel sees industrial production growth at 5.0%.

Author:, Economist

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Serbia Industry Chart

Serbia Industry March 2017

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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