NBS: Annual inflation April at 3.1%
According to the data of the Serbian Statistical Office, consumer price growth amounted to 0.7% in April. The main factor driving prices up came from the seasonal increase in the prices of unprocessed food, clothes and footwear, as well as from the higher prices of petroleum products. Y-o-y inflation continued to move within the bounds of the NBS target tolerance band, measuring 3.1% in April. Core inflation (CPI excluding the prices of food, energy, alcohol and cigarettes) stayed low and stable at 1.4% y-o-y.
Value of construction works in Serbia up 17.6% in 1Q19
The value of construction works in the territory of the Republic of Serbia rose 17.6 pct in Q1 2019 at current prices y-o-y and 13.6 pct at constant prices, the national statistical office RZS has said in a statement. The value of construction works in Q1 2019 increased significantly in the Sumadija and the Western Serbia regions (38.8 pct), followed by the Belgrade region (14.6 pct) and the Vojvodina region (11.4 pct), declining 7.3 pct at constant prices in the Southern and Eastern Serbia regions.
New infrastructural projects in Serbia worth over 8 bln euros
Serbia's new cycle of investments in infrastructure projects is worth over 8 bln euros, Serbian Deputy PM and Minister of Construction, Transport and Infrastructure Zorana Mihajlovic said after Monday's meeting with an IMF mission headed by Jan Kess Martijn. Speaking to reporters, Mihajlovic said the projects in the investment cycle would be worth around 5.2 bln euros this year and 3.5 bln euros in 2020. The construction and the transport sectors have been the biggest contributors to GDP growth in Serbia, in particular over the past three years, which is why we are receiving praise from the IMF, Mihajlovic said.
Dow drops more than 600 points, posts worst day since January as China trade war escalates; European shares close sharply lower as China announces tariff hikes
Stocks fell sharply on Monday after China decided to raise tariffs on some U.S. goods as the ongoing trade war between the world’s largest economies intensifies. The Dow Jones Industrial Average dropped 617.38 points, or 2.4%, to 25,324.99 and posted its worst session since Jan. 3. The S&P 500 also had its worst day since early January, falling 2.4% to 2,811.87. The Nasdaq Composite dropped 3.4% — its biggest one-day loss of the year — to 7,647.02.
Trade bellwether Caterpillar fell 4.6% while Apple dropped 5.8%. Boeing shares declined 4.9% amid speculation the airplane maker could be singled out by China in the trade war. The utilities and real estate sectors, considered by investors to be defensive spaces in the market, were the only ones in the S&P 500 to close higher on Monday.
European markets closed lower Monday, following news China will impose tariffs on some U.S. imports from June 1. The pan-European STOXX 600 closed provisionally down 1.2%. Autos and basic resources stocks — which are particular sensitive to trade news — were the worst performers.
E.On and Centrica were the two notable companies reporting earnings on Monday. The former reported that first-quarter adjusted earnings before interest and tax (EBIT) had declined 8% to 1.67 billion euros ($1.88 billion), beating the 1.64 billion average forecast in a Reuters poll. Shares traded slightly above the flatline.