C. bank: Q3 recovery faster than expected

The third quarter of 2010 saw economic activity recover faster than expected, the National Bank of Serbia (NBS) said.

Izvor: Tanjug

Thursday, 06.01.2011.

16:11

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The third quarter of 2010 saw economic activity recover faster than expected, the National Bank of Serbia (NBS) said. The central bank underlined that GDP increased by 2.7 percent according to the year-to-year data. C. bank: Q3 recovery faster than expected The sector of transportation and communications, trade, processing industry and financial intermediation gave greatest contribution to the GDP growth. According to the data, industrial production marked a 1.1 percent drop in November 2010, while in comparison to the same month of 2009 the industrial production was 0.5 percent lower. The drop in industrial production is the result of the decrease in the production and distribution of electric energy, gas and water by 11.4 percent. The deseasonalized data shows that the processing industry registered a 0.4 percent increase in November 2010. The year-to-year data show a 2.1 percent rise in processing industry, which was achieved thanks to the increase in the production of electric devices and appliances, and tobacco. In the first 11 months of 2010, the commodity deficit was lower in comparison to the same period in 2009. During this time, export of goods increased by 22.3 percent, and import by 8.8 percent. The data are in line with the NBS projections that this year's GDP growth will amount to 1.5 percent, the NBS said.

C. bank: Q3 recovery faster than expected

The sector of transportation and communications, trade, processing industry and financial intermediation gave greatest contribution to the GDP growth.

According to the data, industrial production marked a 1.1 percent drop in November 2010, while in comparison to the same month of 2009 the industrial production was 0.5 percent lower.

The drop in industrial production is the result of the decrease in the production and distribution of electric energy, gas and water by 11.4 percent.

The deseasonalized data shows that the processing industry registered a 0.4 percent increase in November 2010. The year-to-year data show a 2.1 percent rise in processing industry, which was achieved thanks to the increase in the production of electric devices and appliances, and tobacco.

In the first 11 months of 2010, the commodity deficit was lower in comparison to the same period in 2009. During this time, export of goods increased by 22.3 percent, and import by 8.8 percent.

The data are in line with the NBS projections that this year's GDP growth will amount to 1.5 percent, the NBS said.

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