NBS: Serbian Q1 real GDP up by 4.7 y-o-y

BELGRADE - Quoting figures from the national statistical office, the National Bank of Serbia (NBS) says Serbia's real GDP growth in Q1 2024 amounted to 4.7 pct y-o-y, slightly exceeding the flash estimate of 4.6 pct y-o-y.

"Industrial production increased by 2.9 pct y-o-y in January-April 2024, on the back of the expansion in mining (6.1 pct) and manufacturing (3.9 pct), while the production in the energy sector contracted (-3.3 pct), in part due to the base effect.

Observing only April 2024, industrial production increased by 2.9 pct y-o-y, receiving impetus from manufacturing (6.6 pct y-o-y) and mining (5.3 pct y-o-y), while the energy sector saw a decline of 15.0 pct y-o-y," the NBS said in a statement.

"Within manufacturing, growth was recorded in as many as 20 out of 24 branches, with the strongest contributions coming from the production of metal...