Slovenia Industry February 2021

Slovenia

Slovenia: Industrial output deteriorates in February

April 9, 2021

Industrial output decreased 1.5% in year-on-year terms in February, which was a deterioration from January's 1.2% increase, and the worst result since September. February's reading was largely driven by a sharp fall in manufacturing output, as motor vehicle production fell amid a downbeat European car market and chip shortages. In contrast, mining and quarrying output rebounded.

On a monthly basis, factory output grew 0.6% in seasonally-adjusted terms in February, which was below January’s 1.5% expansion. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 6.1%, down from January's minus 5.7%.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 6.4% in 2021, which is up 0.9 percentage points from last month’s forecast. For 2022, the panel projects industrial output will rise 4.1%.


Author:, Junior Economist

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Slovenia Industry February 2021 0

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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