Serbia: Industrial production recovers in October
November 30, 2018
According to data released by the Statistical Office of the Republic of Serbia, industrial production rebounded 3.2% over the same month last year in October, following the 1.2% decline logged in September.
The recovery was chiefly driven by a strong pick-up in manufacturing production, which hit a nine-month high in October. On the other hand, the mining and quarrying and electricity, gas, steam and air conditioning sectors both posted consecutive contractions in the month, albeit at softer rates than in September.
Industrial production fell a seasonally-adjusted 0.4% in month-on-month terms in October, swinging from the revised 3.0% increase registered in September (previously reported: +3.1% month-on-month). Meanwhile, annual average growth in industrial production inched down to 2.8% in October from 2.9% in September.
Serbia Industrial Production Forecast
FocusEconomics Consensus Forecast panelists expect industrial production to expand 4.8% in 2019, which is up 0.2 percentage points from last month’s forecast and 5.3% in 2020.
Author: Lindsey Ice, Economist