Montenegro's industrial output shrinks14.7% y/y in Q1 on weak utility sector.

By bne IntelliNews April 19, 2012
The industrial sector in Montenegro contracted in March as the output dropped by 4.1% y/y, data from the statistics office showed. However, the annual production decline decelerated from 14.7% registered in Feb and 24.5% in Jan, indicating signs of recovery. The utilities sector was the main reason for the contraction. Its output plunged 25.2% y/y in March. The output decline in the sector is however expected to slow as the bad hydrological situation in the country is already over and production is to normalise. The manufacturing sector returned to growth, after falling by 4.4% y/y in Feb. The output of manufacturing companies rose by 11.6% on the year in March. In the first quarter of the year, total industrial output saw a 14.7% decline due to the very weak results in the first two months. The mining and manufacturing sectors ended the quarter above their year ago levels (up 0.7% y/y and 4.3% y/y, respectively), while the utilities sector contracted by 35.2% y/y.

Montenegro's industrial output shrinks14.7% y/y in Q1 on weak utility sector.

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