Serbia: Industrial production strengthens in February
Industrial production growth accelerated to 7.6% in February from 6.3% in January. The robust outturn was driven by broad-based gains across sectors. Mining and quarrying output surged in February, while manufacturing production also gained traction with growth hitting an over-one year high. Meanwhile, electricity, gas, steam and air conditioning supply grew, but only modestly.
Consequently, annual average industrial production growth jumped to 1.6% in February from 1.2% in January.
On a month-on-month seasonally-adjusted basis, industrial production declined 1.5% in February, contrasting January’s 2.8% increase.