Serbia: Industrial output growth stable in October
Industrial production grew 3.0% year on year in October (September: +3.0% yoy). Looking at the details of the release, faster expansions in manufacturing and mining output offset a deceleration in electricity, gas, steam and air conditioning supply growth.
Meanwhile, the trend improved modestly, with the annual average variation of industrial production coming in at an over one-year high of minus 0.1% in October, up from September’s minus 0.4%. On a monthly basis, factory output increased 0.3% in seasonally adjusted terms in October, rebounding from September’s 1.1% fall.