Slovenia: Industrial production contracts in March
May 10, 2013
In March, industrial production fell a working-day adjusted 3.3% over the same month last year, which contrasted a rise of the same magnitude observed in February. The figure represents the sharpest contraction recorded in fourth months and mainly reflects a steep decline in manufacturing. On the other hand, mining and quarrying as well as electricity, gas and water supply improved over the previous month.
A month-on-month analysis confirms the deterioration suggested by the annual data, as industrial output contracted a seasonally-adjusted 2.9% in March, which contrasts the 3.4% rise seen in February.
As a result of the disappointing annual growth seen in March, the trend now points downwards, with annual average growth in industrial production stepping down from minus 0.2% in February to minus 0.4% in March.
FocusEconomics Consensus Forecast panellists expect industrial production to expand 0.8% this year, which is unchanged from last month's Consensus. For 2014, the panel sees industrial output growth accelerating to 2.8%.