Serbia: Industrial output records best result on record in April
Industrial output grew 33.9% year-on-year in April (March: +6.1% yoy). The reading marked the best result on record, and reflected a supportive base effect as the country was on lockdown in the same month last year. Looking at the details of the release, mining and quarrying output grew at a slower rate in April, while electricity, gas, steam and air conditioning output gained momentum.
On a monthly basis, industrial output rose 1.5% in seasonally-adjusted terms in April, contrasting March’s 3.5% fall. Meanwhile, annual average industrial production growth rose to 4.4% in April (March: +0.1%). This signals an improving trend in the industrial sector.