Montenegro's industrial output down 3% y/y in Feb 2013.

By bne IntelliNews March 18, 2013
Montenegro's industrial production shrank 3% y/y in February 2013 after rising by 1.7% y/y in January, the statistics office said in a statement. The mining and quarrying sector's annual drop widened in February compared to a month earlier, due to strong decline in coal and lignite extraction. The manufacturing production also shrank in annual terms in February by close to 33%. The main contributors to the decline in the manufacturing industry were basic metals (down 45% y/y in Feb) and pharmaceutical products (down 68.6%y/y). The utilities sector increased 40.7% in annual terms in February, for a fourth month in a row, but could not offset decline in manufacturing and mining and quarrying which account for 65% of total industrial output. Montenegro's industrial output dropped 7.1% y/y in 2012, following a 10.3% decline in 2011 due to weak performance of the manufacturing sector.
Montenegro's industrial output,%,y/y Dec'10 Dec'11 Dec'12 Jan'13 Feb'13
Industrial output,%, y/y 45.7 -37.1 17.0 1.7 -3.0
mining and quarrying 127.9 -0.3 -10.6 -5.2 -12.7
manufacturing 21.3 -8.3 -179.7 -36.4 -32.8
utilities 70.9 -63.6 100.5 58.8 40.7
Industrial output,%, m/m 23.7 -7.4 15.3 -17.0 2.0
mining and quarrying -3.3 -42.2 -25.7 19.5 -10.6
manufacturing 1.8 -10.6 -0.9 -34.1 12.1
utilities 54.0 12.2 40.0 -5.3 -2.8
Source: Monstat

Montenegro's industrial output down 3% y/y in Feb 2013.

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