Serbia: Industrial production falls in May
Industrial production fell 0.6% over the prior year in May, following the 0.8% decline recorded in April. May’s decline was driven by a sharper drop in manufacturing production and weaker mining and quarrying output. On the upside, gas, steam and air conditioning supply recovered notably in May.
On a month-on-month seasonally-adjusted basis, industrial production rebounded to a four-month high of 1.3%, up from the 0.7% dip recorded in April. Meanwhile, annual average industrial production fell 0.9% in May, matching April’s decline.