Bosnia’s Serb Republic working-day adjusted industrial production index swung to a 1.0% y/y decline in January 2014 from a 3.4% y/y rise in December, as falling utilities output offset rising mining and quarrying and manufacturing sector production, the entity’s statistics office said in a statement.
In monthly terms, the seasonally-adjusted industrial production shrank 2.4% in January after inching up 0.1% m/m the month before.
The manufacturing output growth eased to 1.5% y/y in January from 2.7% y/y in December. The reading was underpinned by rising production of food, beverages, chemicals, pharmaceuticals, wearing apparel and coke and refined petroleum products. On the other hand, falling basic metals, fabricated metal products, textiles and machinery and equipment output dented the overall index growth.
The mining and quarrying sector's output rose 5.6% y/y in January, braking from a 40.0% y/y hike in December, due to slower increase of coal and lignite production.
The utilities remained in the red, going down by 8.7% y/y in January after decreasing by a revised 9.3% y/y in December.
Bosnia’s Serb Republic working-day adjusted industrial production index increased 4.1% in 2013 after declining 4.2% the year before, as all three sectors (mining and quarrying, manufacturing and utilities) recorded positive growth over the period.
The Serb Republic together with the Federation makes up Bosnia. Industry accounts for around 20% of the entity’s gross value-added.
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