National Bank of Serbia says industrial production up

A press release quoted Republic Statistics Office (RZS) data that industrial production was up by 2 percent y.o.y. “led by the upswing in manufacturing (2.7%) and mining (9.9%), while receiving headwinds from the energy sector, which contracted by 4.3%”.

“In May 2024, industrial production declined by 1.1% y-o-y. Mining was up by 28.9% y-o-y, while the energy sector and manufacturing were down by 9.9% and 2.0% y-o-y, respectively. Such trends can be associated with non-working holiday days in early May, as indicated by a 2.7% s-a rise in total industry and a 2.1% increase in manufacturing in May relative to April,” the NBS said.

“Retail trade turnover rose by 6.6% in real, m-o-m terms, or 7.7% y-o-y in January–May,” the press release said and added that tourism figures rose by almost 17 percent.

“When it comes to foreign trade, goods exports declined by 3.3% y-o-y in May, but remained higher by 3.3% in January–May compared to the same period a year before. Y-o-y, goods imports gained 0.6% in May and 1.2% in January–May,” the NBS said.