Bosnia's industrial production growth quickens to 6.5% y/y in Feb 2014

By bne IntelliNews April 3, 2014

Bosnia's working-day adjusted industrial production grew 6.5% y/y in February 2014, speeding from a revised 5.3% y/y hike the month before, due to stronger increase in mining and manufacturing sectors output which offset falling utilities production, the country’s statistics office said in a statement.

In monthly terms, the seasonally-adjusted industrial output rose for a second straight month in February, going up by 2.4% m/m after increasing a revised 1.9% m/m in January.

Bosnia’s industrial production grew 5.9% y/y in the first two months of the year.

The manufacturing output growth strengthened to 13.2% y/y in February from a revised 10.9% y/y the month before. The reading was underpinned by higher production of chemicals, fabricated metal products, wearing apparel, tobacco, beverages and wood. On the other hand, falling basic metals and coke and refined petroleum products curbed the overall index growth during the month.

The mining and quarrying sector increased by 9.3% y/y in February, likewise, speeding from a revised 1.4% annual expansion the month before.

The utilities sector declined for a third straight month in February, shrinking by 12.8% y/y and following a revised 8.2% y/y contraction in January.

Bosnia's working-day adjusted industrial production index grew 6.7% in 2013 after contracting 5.2% the year before, on the back of higher manufacturing and electricity output which offset a decline in the mining and quarrying sector.

The country’s industrial output accounts for around 16% of Bosnia’s GDP, according to latest data from the statistics office.

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