Serbia: Industrial production declines again in April
Industrial production fell 0.8% year-on-year in April, up from the 2.8% contraction logged in March. The downturn came on the back of a sharp decline in electricity, gas, steam and air conditioning supply, as well as a milder contraction in manufacturing output. On the other hand, mining and quarrying output grew robustly in the month, offsetting some of the headline decline.
On a month-on-month seasonally-adjusted basis, industrial production shrank 0.6% in April, up from the 2.3% fall recorded in February. Meanwhile, annual average industrial production fell 0.9% in April, down from the 0.5% decline logged in March.