Serbia Economic Growth Surges In Q3

Published on December 31, 2013 9:53 am

Serbia’s economy grew at a strong pace in the third quarter, data released by the statistical office showed on Monday.

Gross domestic product rose a non-seasonally adjusted 3.7 percent year-on-year, following a 0.6 percent expansion in the second quarter. In the first quarter, growth was 3 percent, while the economy contracted 1.8 percent in the third quarter of 2012.

Manufacturing output increased 8.7 percent and mining and quarrying production rose 8.3 percent. Farm output rose 18.7 percent.

Output in the utilities sector jumped 20.5 percent, while construction output shrunk 26 percent.

Exports surged 26.7 percent, but private consumption fell 2.1 percent.

Quarterly, the economy expanded a seasonally adjusted 1.4 percent quarter-on-quarter, after a modest 0.1 percent growth in the previous three months.

Source RTT SNews

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