Serbia's industrial output growth speeds up to 3.5% y/y in April 2013 – seasonally adjusted

By bne IntelliNews May 31, 2013

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. 

 

Related Articles

Freedom House keeps “partly free” status for Macedonia despite new government’s efforts

Macedonia was rated only “partly free” in the latest report from international watchdog Freedom House, the same almost all of the six Western Balkan countries, despite efforts by the ... more

Former Belgrade airport chief arrested in corruption probe

A former head of Belgrade’s Airport Nikola Tesla (ANT) — identified only by the initials V. R. — has been arrested as part of a corruption investigation, the Ministry of Interior Affairs (MUP) ... more

Southeast Europe's biggest synthetic drugs lab found in Macedonia

Macedonia’s Public Prosecutor's Office said on December 1 it has discovered the biggest laboratory producing synthetic drugs in Southeast Europe in the northwestern city of Tetovo. The lab, ... more

Dismiss