Lower y-o-y industrial growth rates to be expected after January - MAT

BELGRADE - Much more modest y-o-y industrial growth rates can be expected in Serbia after this month, according to the January issue of the MAT economic monthly.

In November 2023, Serbia's industrial production statistically improved compared to October, growing 3.6 pct y-o-y, and registered 2.6 pct cumulative y-o-y growth between January and November, the publication said.

In the first ten months of last year, the physical volume of the total industrial production was firmly anchored at 2.5 pct above the 2023 average.

Following three months of continued y-o-y growth of all three production sectors, the mining sector failed to make a positive contribution in November, with its output slightly down (by 0.02 pct) y-o-y, while the manufacturing sector was up by 2.5 pct y-o-y and the sector of power, natural gas and steam supplies and air conditioning rose by 10.3 pct y-o-y.

In the first 11 months of 2023, electricity production, the manufacturing sector and the mining sector were the biggest contributors to 2.7 pct y-o-y growth of industrial production, MAT also said.