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Serbia’s recovery strengthens but remains dependent on consumption and investment

Serbia entered the second half of 2026 with a stronger headline growth rate but a less convincing underlying production profile. Real gross domestic product...

Serbia’s growth engine is broadening, but 2027 raises the execution stakes

Serbia’s economy maintained positive momentum at the beginning of 2026. Real GDP expanded by 3.2% year-on-year in the first quarter, while activity indicators for...

Serbia’s growth story is strong, but less broad than the headline suggests

Serbia enters the second half of 2026 with one of the more resilient growth profiles in Europe, but the structure behind that performance is becoming more...

Serbia’s Q1 growth looks solid, but investment and inflation signals point to a narrower expansion path

Serbia opened 2026 with a headline growth figure that, at first glance, still places the economy in a comparatively resilient position. Real GDP expanded by 3.2% year...

Serbia’s growth looks resilient, but the industrial weakness behind the headline is hard to ignore

Serbia’s economy entered 2026 with a headline growth figure that appears reassuring at first glance. Real GDP expanded by 3.2 per cent year on year in the first...

Serbia’s Q1 growth looks stronger, but the investment cycle still looks thin

Serbia entered 2026 with better headline growth than the previous quarter, but the first-quarter data do not yet describe a broad investment recovery. Real GDP expanded...

Serbia’s growth model is becoming services-led again, but manufacturing still matters for the rating story

Serbia’s economy started 2026 with moderate growth, but the composition of that growth sends an important signal. Real GDP increased by 3.0% year on year in the first...

Growth deceleration or structural adjustment: Interpreting Serbia’s 2 percent economic expansion in 2025

Serbia’s economy entered a period of slower expansion in 2025, with real gross domestic product increasing by approximately 2 percent, according to official estimates....
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