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industrial production

Serbia’s manufacturing rebound masks weak energy and metals output

Serbia’s industrial production returned to modest annual growth in June 2026, but the headline increase concealed a sharply divided industrial economy in which automotive, electrical...

Serbian industry remains fragile despite modest June growth

Serbia’s industrial production returned a positive annual rate in June, but the underlying data offer little evidence of a broad manufacturing acceleration. Total output...

Serbia’s industry stays positive in May, but the growth signal is thin

Serbia’s industrial production remained formally in positive territory in May 2026, but only just. Output increased by 0.3% compared with May 2025, a figure that keeps the annual...

Serbia’s 2026 forecast shows growth without a strong industrial base

MAT’s forecast for 2026 captures the contradiction in Serbia’s outlook. The report projects total industrial production growth of only 0.5%, with manufacturing down 1.0%, while consumer prices are...

Serbia’s industrial rebound still depends too much on cars and oil refining

Serbia’s April industrial result looked encouraging, but the details show a recovery that is still too concentrated. Industrial production rose 3.4% year on year in April 2026,...

Manufacturing holds up, but energy weakness limits Serbia’s industrial signal

Serbia’s industrial data show resilience, but not yet a strong industrial cycle. The NBS bulletin reports April industrial production at 101.7 against the 2025 average, with manufacturing...

Serbia’s May industrial output shows growth on paper, but the real signal is stagnation

Serbia’s industrial production rose by only 0.3% year on year in May 2026, a marginal increase that keeps the sector formally in positive territory but points to...

Serbia’s 2026 forecast: Growth without a full industrial recovery

Serbia’s 2026 outlook is best described as growth without full industrial recovery. MAT’s June forecast is strikingly balanced: total industrial production is projected to rise only 0.5%,...

Serbia’s factory rebound masks a deep split across manufacturing sectors

Serbia’s March industrial rebound was impressive, but it should not be mistaken for a uniform manufacturing recovery. Total industrial production rose 6.4% year-on-year in March 2026, while...

Analysis: Serbia industrial production – April 2026

The latest industrial production data reveal an economy that continues to grow, but with increasingly uneven performance across sectors. Headline industrial output rose 3.4% year-on-year in...

Serbia’s industrial output returns to growth in April as manufacturing regains momentum

Industrial production in Serbia increased by 3.4% year-on-year in April 2026, extending the recovery that began during the first quarter and signaling a gradual stabilization...

Serbia’s industrial production in 2025: Growth slows to 0.9% as external demand softens and domestic shocks intensify

Serbia’s industrial sector ended 2025 with growth, but only narrowly so. The headline figure from the February 2026 edition of MAT – Macroeconomic Analyses and Trends is that total industrial...

Industrial production decline highlights structural challenges in Serbia’s manufacturing sector

Serbia’s industrial sector experienced a difficult start to 2026, with industrial production declining by approximately 9 % year-on-year in January. The contraction was largely...

Industrial production shock: Serbia’s manufacturing output drops 9.1% at the start of 2026 

Serbia’s industrial cycle started 2026 with a clear downside signal as headline industrial output in January fell 9.1% year-on-year, a contraction large enough to...
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