Private Consumption in Serbia
GDP growth accelerates in Q1 but remains subdued
According to a preliminary reading, GDP growth improved moderately to 0.7% year on year in the first quarter, from 0.4% in the fourth quarter of last year.
Data for Q1 points to a slowdown in private spending as a result of monetary tightening and still high inflation denting real disposable income. In contrast, industrial activity expanded. Moreover, the external sector performed well, with a strong export performance and relative flattish imports in annual terms.
Serbia Private Consumption Chart
This chart displays Private Consumption (annual variation in %) for Serbia from 2013 to 2022.
Serbia Private Consumption Data
| 2017 | 2018 | 2019 | 2020 | 2021 | |
|---|---|---|---|---|---|
| Private Consumption (ann. var. %) | 2.2 | 3.1 | 3.7 | -1.9 | 7.8 |