Industrial production drops 6.3 percent

BELGRADE - Industrial production in Serbia was down 6.3 percent in January-October against a year earlier, the Statistical Office of the Republic of Serbia said in a release Friday.

Industrial production fell 11.2 percent in October against October last year, and grew 2.7 percent compared to the 2013 average, according to the release.

Production in the electricity, gas, steam and air conditioning section fell 28 percent, in the mining and quarrying section it went down 17.1 percent, and the manufacturing industry saw a production decline of 6.3 percent.

Industrial production data for October shows a 23.9 percent decline in the production of capital goods, a 23.8 percent decline in energy production and an 8.1 percent drop in the production of intermediate products, energy excluded, against a year earlier.

The production of non-durable consumer goods saw a 0.9 percent growth and the production of durable consumer goods was up seven percent.

The industrial production volume in October declined in 18 divisions (whose share in the structure of industrial production is 67 percent), and went up in 11 divisions (whose share in the structure of industrial production is 33 percent), against a year earlier.

The major causes of the decline in industrial production in October, compared to the same month of 2013, came from electricity production, manufacture of metal products except machinery, mining of coal, manufacture of chemicals and chemical products and manufacture of motor vehicles and trailers.

The seasonally adjusted industrial production index for October 2014, compared to September 2014, shows a 4.7 percent growth in the overall industrial production and 3.8 percent growth in manufacturing....