Serbia's industrial production growth quickened to 3.5% y/y in April from 2.2% the month before lifted by a 5.0% y/y rise in the manufacturing sector, seasonally-adjusted data of the statistics office showed. In monthly terms, the seasonally-adjusted industrial output inched up 1.8% m/m in April following a 1.2% drop a month earlier. The manufacturing sector’s output grew 4.1% m/m in April.
Compared to the 2012 average, the seasonally-adjusted industrial production increased 4.9% in April, while the manufacturing sector rose 6.6%.
In seasonally-unadjusted terms, industrial output expanded 5.7% y/y in April, speeding up from a mild 0.8% increase in March due to strong activity in the manufacturing sector.
The seasonally-unadjusted manufacturing output rose 9.0% y/y in April supported by higher motor vehicles production (up 198% y/y). The low base effect played a major role as Fiat's plant in Kragujevac launched its operations in July 2012. Rising production of coke and refined petroleum products (up 39% y/y), reflecting increased capacity of the Pancevo oil refinery of local energy firm NIS, also pushed the overall manufacturing output up.
The mining sector production remained in the red, shrinking 3.4% y/y in April after a 7%y/y drop in March, due to falling coal and lignite extraction. The utilities sector output swung to a 3.0% y/y decline in April from a 13.6% growth in March. However, lower mining and quarrying and utilities output were largely offset by higher manufacturing production.
United Group, a leading multi-play (Pay-TV, Broadband, Telephony, Mobile) operator in Southeast Europe, majority owned by US private equity firm Kohlberg Kravis Roberts (KKR), plans to invest ... more
The National Bank of Serbia (NBS) executive board decided to cut the key policy rate again on April 12 to 3%. The bank previously cut the rate to ... more
Serbian far-right leader Vojislav Seselj was sentenced on April 11 to 10 years in prison for war crimes and crimes against humanity committed during the civil war caused by the breakup of Yugoslavia ... more