Serbia: Industrial production rebounds strongly in May
June 30, 2017
Industrial production expanded 6.2% from the same month a year earlier in May, contrasting April’s 2.6% contraction. A breakdown of the print shows that strong growth in the manufacturing (+9.2% year-on-year) and mining and quarrying (+10.0% yoy) sectors drove May’s expansion, while the electricity, gas, steam and air conditioning sector posted a moderate decline (-6.3% yoy).
A sequential comparison shows that industrial production expanded by an impressive, seasonally-adjusted 4.1% in May, which was the strongest monthly gain in two years and soared above April’s revised 1.1% print (previously reported: +0.7% month-on-month). Annual average growth in industrial production recovered somewhat, climbing from a nearly two-year low 1.5% in April to 1.9% in May.
Author: Christopher Thomas, Economist