Serbia's Q2 GDP Contracts by Real 4.0% Y/Y

The gross domestic product (GDP) shrank by a real 4.1% in the first half of 2009, compared to the same period last year, the office said on its website.

The manufacturing industry, the trade sector and the construction sector had the largest contribution to the GDP contraction in the second quarter of this year, the office said.

Serbia’s GDP slowed its growth to a real revised 5.5% in 2008 from 6.9% in 2007. In the first quarter of 2009 it contracted by revised 4.2% year-on-year, down from 3.0% real growth in the last quarter of 2008.