FX.co ★ Serbia Industrial Output Growth Slows in April

Industrial production in Serbia rose by 2.3% in April 2025 compared to the same month the previous year, marking a slowdown from the substantial 6.9% increase recorded in March. This deceleration was largely attributed to reduced growth in the output of capital goods, which rose by just 0.8% in April compared to 4.3% in March, and intermediate goods, which advanced by 0.5% after a more significant 7.5% increase in the previous month. Moreover, there was a continued decline in the production of both durable consumer goods, which fell by 7.4% following a 10.3% drop, and non-durable goods, which declined by 8.5% after previously decreasing 1.2%. In contrast, energy production saw a remarkable increase, surging by 23.1% compared to a 16.5% rise in March. When adjusted for seasonal variations, industrial output decreased by 0.2% month-on-month in April.