Industry in Serbia
Serbia - Industry
Growth in industrial output slows in May
Industrial production expanded 0.5% over the same month last year in May. While the figure was a sharp deceleration from April’s 3.1% increase, it nonetheless represented the 13th consecutive month of expansion.
According to the Statistical Institute, May’s slowdown was driven by a 10.3% year-on-year contraction in mining and quarrying output, which fell at the fastest rate in over a year (April: +1.7% year-on-year). Electricity, gas, steam and air conditioning supply also swung to contraction in May, falling 0.3% following April’s 13.0% expansion. Meanwhile, manufacturing output expanded 1.6% in May, up from 1.0% in April.
In month-on-month terms, industrial production expanded a seasonally-adjusted 3.4% in May, in contrast to April’s downwardly revised 4.1% contraction (previously reported: -1.7% month-on-month). Annual average growth in industrial production fell from 5.4% in April to 5.0% in May.
FocusEconomics Consensus Forecast panelists expect industrial production to expand 4.3% in 2018, which is down 0.1 percentage points from last month’s estimate. In 2019, the panel sees industrial production growth at 5.6%.
Serbia - Industry Data
|Industrial Production (annual variation in %)||5.6||-6.1||8.4||4.8||3.5|
5 years of economic forecasts for more than 30 economic indicators.
Serbia Industry Chart
|Bond Yield||3.75||0.0 %||Aug 15|
|Exchange Rate||104.0||-0.31 %||Aug 15|
|Stock Market||1,526||-0.44 %||Aug 15|
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August 13, 2018
Consumer prices declined 0.3% from the previous month in July, contrasting June’s 0.4% increase.
August 9, 2018
At its 9 August monetary policy meeting, the Executive Board of the National Bank of Serbia (NBS) voted to keep the key policy rate on hold at 3.0%, a decision that met market expectations. The NBS considered its decision appropriate in the context of increasing inflationary pressures, as the Bank aims to anchor inflation in its target range of 1.5%–4.5%.
July 12, 2018
Consumer prices increased 0.4% from the previous month in June, below May’s 0.6% print.
June 29, 2018
Industrial production expanded 0.5% over the same month last year in May.
June 11, 2018
At its monthly monetary policy meeting held on 11 June, the Executive Board of the National Bank of Serbia (NBS) decided to leave the key policy rate unchanged at 3.00%.