Serbia: Industrial production rebounds in February
March 29, 2019
According to data released by the Statistical Office of the Republic of Serbia, industrial production rebounded 2.4% year-on-year in February from the 5.5% fall logged in January. The recovery came solely on the back of a solid rebound in manufacturing output. On the other hand, mining and quarrying, and electricity, gas, steam and air conditioning supply continued to contract in February, albeit at much weaker rates compared to January.
On a month-on-month basis, industrial production rose a seasonally-adjusted 0.6% in February, down from the revised 5.2% increase logged in January (previously reported: +3.2% month-on-month). Meanwhile, annual average growth in industrial production was stable at 0.1% in February.
Serbia Industrial Production Forecast
Last month, FocusEconomics Consensus Forecast panelists expected industrial production to expand 2.8% in 2019, which was down 1.6 percentage points from last month’s forecast, and 3.6% in 2020. New forecasts will be published on 2 April.
Author: Lindsey Ice, Economist