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Serbia's retail sales rise in October, GDP growth slows in Q3

Retail

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Serbia's retail sales increased by a real 4.0% year-on-year in October, after posting a 4.3% annual rise in the previous month, data released by the Belgrade-based Central Statistical Office (SORS) showed on Tuesday.

Month-on-month, retail sales edged down by a real 4.2% in October, following a 4.9% increase in the previous month, the office said in a statement.

Serbia's gross domestic product (GDP) expanded by an annual 7.7% in the third quarter of 2021, following a 13.7% advance in the previous three-month period, according to a separate report.

On a seasonally adjusted quarterly basis, the economy expanded 1.6%, the same pace as in the second quarter.

Data also showed, that Serbia's unemployment rate stood at 10.5% in the third quarter of 2021, down by 0.6 percentage point compared to the previous quarter.

A year earlier, the jobless rate was 9.8%.

The employment rate, meanwhile, increased to 50% in the Q3, up from 47.8% a year earlier. 

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