Industrial production in Montenegro jumped 18.2 percent year-on-year in November of 2018, up from a 15.3 percent rise in the previous month. Output advanced faster for manufacturing (37.5 percent from 20.8 percent in October) while it went up at a softer pace for electricity, gas, steam & air conditioning supply (13.1 percent from 24.4 percent). Meanwhile, production fell more for mining & quarrying (-38.4 percent from -22.7 percent). On a monthly basis, industrial activity increased 14.1 percent, recovering from a 0.6 percent drop in October. Industrial Production in Montenegro averaged 1.01 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.