Slovenia: Industrial activity drops at sharpest rate since February 2021 in September

Industrial production dropped 0.1% year on year in September (August: +4.3% yoy). September's outturn marked the worst reading since February 2021. September's reading was largely due to a slowdown in manufacturing output growth. Furthermore, energy output continued to contract sharply. That said, mining and quarrying production gained steam.



On a monthly basis, factory output declined 2.6% in seasonally adjusted terms in September, contrasting August’s 0.8% expansion and marking the worst result since February. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 4.5% in September, down from August's 5.0% reading.

FocusEconomics Consensus Forecast panelists project industrial productionto grow 2.4% in 2023, which is down 0.3 percentage points from last month’sforecast. For 2024, the panel projects industrial output will expand 2.7%.