Serbia: Industrial output rebounds in March
Latest reading: Industrial production rose 6.9% year on year in March (February: -1.8% yoy). The improvement was driven by a rebound in manufacturing production and a larger expansion in mining and quarrying output. That said, electricity, gas, steam and air conditioning supply fell at a steeper rate.
Meanwhile, the trend improved significantly, with the annual average variation of industrial production coming in at 0.0%, up from February’s minus 1.6% reading. On a seasonally adjusted monthly basis, factory output rebounded, rising 0.5% in March (February: -0.9% mom).