Serbia Industry November 2019


Serbia: Industrial sector gains ground in November

December 29, 2019

Industrial production grew 1.1% year-on-year in November, up from the 0.5% increase in October. The acceleration was driven by a rebound in electricity, gas, steam and air conditioning supply, while manufacturing output growth was stable from the prior month. Conversely, mining and quarrying production declined at a sharper rate in November.

On a month-on-month seasonally-adjusted basis, industrial production rose 1.6% in November, contrasting the 0.3% dip logged in October. Meanwhile, annual average industrial production fell 1.0% in November, easing from the 1.2% decline in October.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 2.9% in 2020, which is unchanged from last month’s estimate. In 2021, the panel sees industrial production growth at 3.0%.


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Serbia Industry Chart

Serbia Industry November 2019

Note: Year-on-year and annual average variation of industrial production index in %.
Source: Statistical Office of the Republic of Serbia (SORS).

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