Slovenia: Industrial output records quickest growth since January 2018 in March, amid a favorable base effect
Industrial production rose 8.5% year-on-year in March (February: -0.7% yoy), amid a favorable base effect. March’s figure marked the best result since January 2018. March’s rise was partly driven by a notable rebound in manufacturing production. In contrast, mining and quarrying output fell.
On a seasonally-adjusted monthly basis, factory output fell 1.0% in March (February: +1.1% mom), the worst result since April 2020. Meanwhile, the trend improved sizably, with the annual average variation of industrial production coming in at minus 4.7% in March, up from February’s minus 6.1% reading.
The base effect should intensify in the coming months, boosting year-on-year industrial production readings, as the pandemic was at its height in Q2 last year.