Industrial production in Montenegro increased 24 percent year-on-year in September of 2018, up from a 5.1 percent rise in the previous month. Output rebounded for manufacturing (25.8 percent from -4.8 percent in August) and production advanced slightly less for electricity, gas, steam & air conditioning supply (37.7 percent from 42.5 percent). Meanwhile, output declined at a softer pace for mining & quarrying (-10.7 percent from -26.9 percent). On a monthly basis, industrial activity went up 8.7 percent, following a 1 percent gain in August. Industrial Production in Montenegro averaged 0.74 percent from 2009 until 2018, 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 28.50 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 4.00 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.