Serbia’s industrial production rose 0.3% year on year in August, contrasting July’s 1.6% contraction, the statistical office (SORS) said on Thursday.

The rebound was driven by a swing in manufacturing output, while mining and quarrying output continued to expand as well. Less positively, electricity, gas, steam and air conditioning supply dived. Meanwhile, annual average industrial production growth was stable at July’s 2.5% in August.

Lastly, industrial output contracted 1.0% on a monthly basis in August. While this was up from July’s 2.2% contraction, the monthly print pointed to a further loss of momentum in the period.

Source: FocusEconomics, Momentum