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