A slew of Serbian data was released, where the flash GDP estimate showed that Q1 2024 GDP came in at 4.6%, much higher than the estimate of 3.5%. The IMF upgraded its 2-24 growth forecast for Serbia earlier this month from 3.0% to 3.5%. Other data showed an uptick in retail sales, tourist arrivals, and a narrowing trade deficit. Conversely, industrial output fell.