Slovenia: Industrial output jumps at the close of 2017
February 9, 2018
Industrial production picked up steam in December following a slight moderation in November. Annual growth in industrial output jumped to 12.2% over the same month of the previous year, up from November’s 9.9% year-on-year increase.
A breakdown of December’s result, released by the Statistical Institute, showed the upturn was fueled entirely by an accelerated pace of expansion in the manufacturing sector. Year-on-year growth in manufacturing output rose to 13.3% in December, up from 10.9% in November. In contrast, the mining and quarrying, and electricity, gas, steam and air conditioning sectors swung to contraction. In annual terms, mining and quarrying dropped 3.1% in December, contrasting a revised 0.8% rise in November (previously reported: +0.9% year-on-year) and electricity, gas, steam and air conditioning contracted 0.7% (November: +2.2% yoy).
On a month-on-month basis, industrial production grew 2.7% in December, a faster expansion than the revised 0.9% rise in November (previously reported: +0.7% month-on-month). Despite the upturn, annual average growth in industrial production remained at November’s 8.0% in December.
Author: Nihad Ahmed, Economist