(ANSA) - BELGRADE, JANUARY 31 - The economic growth in the Western Balkans, after a "gradual slowdown" registered since mid-2018, accelerated again in the third quarter of 2019, with annual real GDP growth averaging 4.1%, up from 2.9% in the previous three months and "the highest rate in more than a year," the European Commission said in its newest EU Candidate Countries' & Potential Candidates' Economic Quarterly (CCEQ) report. "The improvement was largely driven by a pick-up in GDP growth in Serbia, the largest economy in the region," the report said.

In general, private consumption remained the most important growth driver in the region, while investment rebounded and exports grew. Moreover, "unemployment rates continued to decline in most countries to historically low levels" for the region.

Serbia recorded the largest acceleration of annual GDP growth, to 4.8% from 2.9% in the previous quarter, backed by a growth of investments, and public and private consumption, the report said. In Montenegro and Albania annual output growth strengthened to 4.7% and 3.8%, respectively, while in Kosovo the GDP expanded 4.4% year-on-year in the third quarter. The annual output growth accelerated slightly to 3.6%, up from 3.4% in North Macedonia in the second quarter and by 2.6% year-on-year in Bosnia and Herzegovina. The lowest unemployment rate in the region was registered in Serbia (9.5%), followed by Albania (11.6%), Montenegro (15.6%), North Macedonia (17.1%) and Kosovo (24.5%). No data were available for Bosnia and Herzegovina. (ANSA).