Bosnia's industrial production growth slows to 3.9% y/y in Jan 2014

By bne IntelliNews March 13, 2014

Bosnia's working-day adjusted industrial production grew 3.9% y/y in January 2014, easing from a 6.0% y/y rise in December 2013, due to a fall in the utilities sector and a slower increase in mining and manufacturing sectors output, the country’s statistics office said in a statement. In monthly terms, the seasonally-adjusted industrial output swung to a 1.0% growth in January, from a revised 1.1% m/m contraction in December.

The manufacturing output growth weakened to 8.7% y/y in January from a revised 14.2% y/y the month before. The reading continues to be underpinned by higher production of chemicals, beverages, textile, wood, wearing apparel, coke and refined petroleum products, fabricated metal products, albeit growing at a slower pace than in December. In addition, falling food and computer, electronic and optical products curbed the overall index growth in January.

The mining and quarrying sector increased by 1.4% y/y in January, cooling from a revised 15.3% annual expansion the month before, dragged down by shrinking other mining and quarrying output.

The utilities sector declined for a second straight month in January, falling by 8.3% y/y following a revised 15.6% y/y contraction in December.

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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