Industrial production in Serbia declined by 2.3% year-on-year in October 2025, marking the first decline since February and reversing a 2.5% growth in the previous month.
The decline was driven by a sharp drop in energy output (-17% vs -1% in September) and a modest contraction in durable consumer goods (-0.2% vs -5.7%).
Production of intermediate goods, excluding energy, rose at a slower pace (0.9% vs 7.9%).
In contrast, output growth accelerated in capital goods (16.2% vs 11.3%) and rebounded in non-durable consumer goods (2.7% vs -4.2%).
On a seasonally adjusted monthly basis, industrial activity contracted 2.1%, reversing a 1.1% growth in September.
For the first ten months of 2025, industrial production was 2.1% higher compared with the same period last year.