Slovenia Industry August 2020

Slovenia

Slovenia: Decline in industrial activity softens in August

October 9, 2020

Industrial output decreased 1.8% in year-on-year terms in August, which was above July's 4.9% decrease. The result marked the best reading since February.

August's softer drop was partly due to a softer fall in manufacturing output. In contrast, mining and quarrying output fell notably.

On a seasonally-adjusted monthly basis, industrial production rose at a more moderate pace of 1.9% in August (July: +8.0% mom). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 5.0% in August, down from July's minus 4.7%.

FocusEconomics Consensus Forecast panelists expect industrial production to fall 8.0% in 2020, which is up 1.3 percentage points from last month’s forecast. For 2021, the panel projects industrial output growth will rise to 5.3%, which is up 0.1 percentage points from the previous month’s estimate.


Author:, Junior Economist

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Slovenia Industry August 20 20 1

Note: Year-on-year working day adjusted and annual average growth of industrial production index in %.
Source: Statistical Office of the Republic of Slovenia (SORS).


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