Serbian town in the winter

Serbia Industry December 2019

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.

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