Slovenia Industry July 2020

Slovenia

Slovenia: Industrial output falls at a less pronounced rate in July

September 11, 2020

Industrial output declined 4.6% in year-on-year terms in July, falling at a less pronounced rate than June’s 11.3% drop. July’s weaker decline was mainly driven by a softer fall in manufacturing production and electricity, gas steam and air conditioning supply output. Moreover, mining and quarrying output rebounded.

On a seasonally-adjusted monthly basis, growth in industrial production accelerated to 8.0% in July (June: +5.2% s.a. mom). Meanwhile, the trend continued to deteriorate, with the annual average variation of industrial production coming in at minus 4.7% in July, down from June’s minus 3.9% reading.

FocusEconomics Consensus Forecast panelists expect industrial production to fall -9.3% in 2020, which is down 0.5 percentage points from last month’s forecast. For 2021, the panel projects industrial output growth will rise to 5.2%.


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Slovenia Industry July 20 20

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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