Serbia: Industrial production shrinks in November
January 2, 2019
According to data released by the Statistical Office of the Republic of Serbia, industrial production fell 1.0% over the same month of the previous year in November, following the 3.2% increase registered in October. The drop was driven by continued contractions in mining and quarrying output and electricity gas, steam and air conditioning generation. Growth in the manufacturing sector, on the other hand, was flat in the month.
Industrial production fell a seasonally-adjusted 1.3% on a month-on-month basis in November, following the downwardly-revised 0.7% decline logged in October (previously reported: -0.4% month-on-month). Meanwhile, annual average growth in industrial production slowed to a one-and-a-half-year low of 2.3% in November from 2.8% in October.
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.