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.

Related Articles

Montenegro to speed up re-nationalisation of power firm EPCG

Montenegro’s government has decided to speed up the acquisition of Italian A2A's stake in the power firm EPCG, paying €68.9mn for a ... more

EU slams Montenegro’s lack of progress in fight against corruption

The European Commission slammed Montenegro for its lack of progress in fight against organised crime in its progress report released on April 17, and said that the country ... more

Bulgaria’s Borissov appeals to Western Balkan leaders to preserve peace

Boyko Borissov, prime minister of the current EU Council chair Bulgaria, called on April 10 on the leaders of the Western Balkan countries to preserve peace and ... more

Dismiss