Serbia: Industrial production tumbles to an over-four year low in December
January 31, 2019
According to data released by the Statistical Office of the Republic of Serbia, industrial production plunged 6.3% over the same month of the prior year in December, following the 1.0% dip recorded in November. The decline marked the poorest result since November 2014 and came on the back of broad-based losses in the month. The mining and quarrying, and electricity gas, steam and air conditioning sectors posted sharper contractions in December, while manufacturing output also fell notably following flat growth in November.
On a month-on-month basis, industrial production fell a seasonally-adjusted 4.4% in December, down from November’s upwardly revised flat print (previously reported: -1.3% month-on-month). Meanwhile, annual average growth in industrial production slid to 1.5% in December, from 2.3% in November.
Serbia Industrial Production Forecast
FocusEconomics Consensus Forecast panelists expect industrial production to expand 4.8% in 2019, which is unchanged from last month’s forecast and 4.8% again in 2020.