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Serbia, Growth of industrial production 1.7 percent

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Industrial production in Serbia increased by 1.7 percent in the period January – November 2022 compared to the same period last year, and only in November it increased by 0.4 percent on an annual basis.

Compared to the average in 2021, industrial production was 6.3 percent higher in November, the Republic Bureau of Statistics announced, as reported by Tanjug.

Production growth at the annual level was recorded in November in the electricity, gas, steam and air conditioning supply sector by 8.0 percent and in mining by 3.4 percent, while a 1.4 percent decline was registered in the processing industry.

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According to statistical indicators, production growth compared to November 2021 was achieved in the production of capital goods by 9.1 percent, the production of durable consumer goods also by 9.1 percent, and the production of energy by 5.4 percent.

In contrast, the production of non-durable consumer goods decreased by 0.9 percent year-on-year, and intermediate goods, except energy, by 6.0 percent.

According to seasonally adjusted data, the total industrial production in November was 0.4 percent higher than in October, while the manufacturing sector grew by 0.8 percent.

Compared to the average in 2021, industrial production in November achieved a total growth of 1.0 percent, while manufacturing production fell by 0.6 percent, according to seasonally adjusted data.

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