Industrial production in Montenegro dropped 9.0 percent from a year earlier in November 2019, following a 6.3 percent fall in the previous month. It was the fourth straight monthly decline in industrial activity, as manufacturing output declined further (-36.1 percent vs -10.1 percent in October). Meantime, mining & quarrying production slowed (16.5 percent vs 28.9 percent) while electricity, gas, steam & air conditioning supply rebounded (39.5 percent vs -10.6 percent). On a monthly basis, industrial production rose 10.9 percent, up from a 5.2 percent slump in October. Industrial Production in Montenegro averaged 0.43 percent from 2009 until 2019, reaching an all time high of 91 percent in March of 2010 and a record low of -51.40 percent in August of 2009.
Industrial Production in Montenegro is expected to be -7.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Montenegro to stand at 2.50 in 12 months time. In the long-term, the Montenegro Industrial Production is projected to trend around 2.50 percent in 2020, according to our econometric models.