| Bosnias Federation industrial output dropped by 4.7% on the year in the first eleven months of 2012, slowing down from the 4.9% annual decline in the first ten months, the Federations statistics office said in a statement. Utilities production recorded the steepest annual decline of close to 13% in Jan-Nov. Mining and quarrying output dropped 4.7% on the year while manufacturing production shrank 2% y/y over the period. In November alone, the industrial output shrank 2.8% y/y after decreasing a 5.8% y/y a month earlier. In monthly terms, the output shrank 1.1% after increasing by 1.8% in October. Novembers industrial output was 3.2% lower than the 2011 monthly average. Industry accounted for around 23% of Bosnias Federation gross value added in 2012. The Federation together with the Serb Republic makes up Bosnia and Herzegovina. |
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