Serbia Industrial Production Growth Slows in June

Manufacturing

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Industrial production in Serbia increased by 0.5% year-on-year in June, slowing from a 1.5% rise in the previous month, the Belgrade-based Central Statistical Office (RBS) said on Monday.

Industrial output of electricity, gas, steam & air conditioning supply slowed (12.7% vs 17.2%) and the statistics agency recorded sharper contraction in mining & quarrying (-13.4% vs -3.3%).

On the other hand, the output was unchanged for manufacturing, following a 0.6% drop in May.

A preliminary estimate from the statistics agency showed that Serbia's economy grew by 1.7% year-on-year during the second quarter of 2023, accelerating from a 0.7% expansion in the previous three-month period.

This marked the fastest pace of expansion in a year, likely supported by a moderation in inflationary pressures.

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