Serbia: Industrial production slips in March
Industrial production dipped 0.1% in annual terms in March, contrasting the 7.6% surge recorded in February. March’s drop in output marked the worst performance in nine months. The downturn was largely caused by a sharp decline in electricity, gas, steam and air conditioning supply, which fell at the sharpest rate in over a year-and-a-half. Meanwhile, manufacturing production and mining and quarrying output moderated in March. Nevertheless, annual average industrial production growth rose to 1.8% in March from 1.6% in February.
On a month-on-month seasonally-adjusted basis, industrial production fell 4.6% in March, following the 1.5% decrease in February.