Cadez: More dynamic growth in Q3, Q4 2019

Serbia's corporate sector enjoyed accelerated business growth and positive operations in the third and fourth quarters of 2019 and the construction and the commerce sectors saw the most dynamic growth in the third quarter, while the metals industry is expected to recover in the fourth quarter, PKS President Marko Cadez said Monday.

09 Decembar 2019 17:37

BELGRADE - Serbia's corporate sector enjoyed accelerated business growth and positive operations in the third and fourth quarters of 2019 and the construction and the commerce sectors saw the most dynamic growth in the third quarter, while the metals industry is expected to recover in the fourth quarter, Chamber of Commerce and Industry of Serbia (PKS) President Marko Cadez said Monday.

Speaking about the macroeconomic situation, Cadez said economic activity had accelerated by a significant 4.8 pct in Q3 2019 and added that this year's growth was slightly above an initial 3 pct projection. He also said a 4 pct growth projection for in 2020 was considered realistic and in line with IMF and World Bank forecasts.

Presenting the results of a new quarterly survey at a session of the PKS Managing Board and Assembly, Cadez said 47 pct of the participating companies had registered higher turnovers in the third quarter and that 58 pct had positive expectations for the fourth quarter.

He said a lack of resources such as labour force, equipment and space was the main limitation to operations, in particular in the metals, construction, woodworking and transport industries.

Photo: PKS


top of page