Serbia: Industrial sector surges to near two-year high in December
Industrial production growth accelerated to 8.3% in annual terms in December from the 1.1% increase in November and marking the strongest performance since January 2018. As a whole, industrial production growth averaged 0.3% in 2019, which was down notably from the 1.3% rise recorded in 2018.
December’s acceleration was driven by broad-based improvements across activities. Mining and quarrying output rebounded sharply in December, while manufacturing production, and electricity, gas, steam and air conditioning supply both picked up notably.
On a month-on-month seasonally-adjusted basis, industrial production fell 0.8% in December contrasting the 1.6% increase in November.