Industry in Serbia November 2022

Industrial production rose 0.4% year-on-year in November, while it fell 0.1% in October. This was driven by the expansion of mining, as well as the supply of electricity, gas, steam and air conditioning. At the same time, the volume of production decreased. Meanwhile, average annual industrial production growth slowed to 1.7% in November from 2.3% in October.

Finally, industrial output increased 0.40% m/m in November, compared to a 0.60% increase in October.

FocusEconomics Consensus Forecast experts expect industrial production to grow by 2.8% in 2023, up 0.1 percentage point from last month’s estimate. In 2024, industrial production will grow by 3.9%.