Slovenia Industry April 2021

Slovenia

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.

FocusEconomics Consensus Forecast panelists expect industrial production to rise 6.6% in 2021, which is up 0.2 percentage points from last month’s forecast. For 2022, the panel projects industrial output will rise 4.3%.


Author:, Junior Economist

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Slovenia Industry April 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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