trade deficit

Serbia’s Economy Expands 3.8% as Consumption and Construction Outpace Industry

Serbia’s economic growth strengthened in the second quarter, with real GDP rising 3.8% year on year, but July data point to a widening gap between strong domestic demand and weaker industrial activity. Final figures from the Statistical Office showed quarterly growth above the earlier 3.6% flash estimate. On a seasonally adjusted basis, economic output increased 1.5% from the first quarter. Growth was led by construction, household consumption and fixed investment. Construction expanded 9.1% year on year, household consumption increased 4.0%,…