Montenegro's industrial production growth slowed to 5.7% y/y in February 2014, from 7.4% y/y the month before due to falling utilities production and slower increase in manufacturing sector output, the statistics office said.
In monthly terms, the industrial output edged up 0.4% in February after shrinking 22.2% in January. It was by 5.3% lower compared to the 2013 average.
Manufacturing production climbed 20.5% y/y in February, cooling from a 39.8% y/y growth the month before. The reading was supported by higher food, pharmaceutical, wood and machinery and equipment output. On the other hand, falling production of basic metals, fabricated metal products, tobacco, chemicals and plastic and rubber products dented the overall index growth.
The mining and quarrying output grew 30.8% y/y in February, quickening from a 13.8% hike in January. The utilities output, continued retreating, falling by 6.5% y/y albeit narrowing from a 12.2% y/y drop the month before.
In 2013, the industrial production rose 10.6% after declining 7.1% the year before, entirely on the back of higher electricity output.
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