Slovenia: Industrial output grows at record pace in April
June 10, 2021
Industrial output rose 35.9% year-on-year in April (March: +11.5% yoy). The figure marked the best result on record. April's notable upturn was primarily due to a favorable base effect. The print benefited from an upturn in manufacturing and electricity, gas, steam and air conditioning supply production.
On a monthly basis, industrial output grew 1.0% in seasonally-adjusted terms in April, up from March’s 0.6% rise. Meanwhile, the trend improved sizably, with the annual average variation of industrial production coming in at plus 0.5%, contrasting March's minus 4.5% reading.
The base effect should ebb in the coming months as the hit from the pandemic peaked in April last year, although underlying momentum in the industrial sector should stay strong.
Author: Frederico Teixeira de Abreu, Junior Economist