Industrial production in Montenegro increased 5.0 percent from a year earlier in July 2019, easing slightly from a 5.6 percent surge in June, as output rose much less for electricity, gas, steam & air conditioning supply (5.2 percent vs 19.4 percent in June). On the other hand, production continued to advance solidly for mining & quarrying (14.3 percent vs 7.5 percent) and it rebounded for manufacturing (3.3 percent vs -2.6 percent). On a monthly basis, industrial activity went up 0.6 percent, following a 25.8 percent jump in the preceding month. Year-to-date, industrial production shrank 9.8 percent compared to the same period a year ago. Industrial Production in Montenegro averaged 0.60 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 -12.00 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.