Montenegro's industrial output growth slows to 3% y/y in Sep 2013

By bne IntelliNews October 15, 2013

Montenegro's industrial production growth slowed to 3% y/y in September from 9% y/y in August, due to falling mining and quarrying output, the statistics office said. Slower growth of the utilities sector and weak metal sector activity helped dent the overall industrial production growth over the period. In monthly terms, the industrial output shrank 10.2% in September after edging up 0.8% in August. It was by 2.4% lower compared to the 2012 average.

September’s mining and quarrying production swung to a 17.5% y/y drop in September after increasing 7.7% y/y the month before, due to lower coal and lignite and other mining and quarrying extraction. Utilities output rose 4.5% y/y, cooling from a 19.2% rise in August.

The manufacturing production, on the other hand, grew 6.5% y/y in September, speeding from a 4.7% y/y increase the month before. The reading was supported by rising food, beverages, pharmaceutical products and non-metallic mineral products output. Falling basic metals production continued to weigh on Montenegro’s industrial production growth.

The industrial output dropped 7.1% in 2012 due to the weak manufacturing sector activity.

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