Slovenia Industry February 2018

Slovenia

Slovenia: Industrial production growth loses pace in February

April 10, 2018

Industrial production grew 7.2% year-on-year in February. While the industrial sector expanded robustly, its pace of expansion was down markedly from a revised 11.5% annual growth recorded in January (previously reported: +12.7% year-on-year).

Looking at a breakdown of the sub-sectors, manufacturing output grew at a slower pace, and the mining and quarrying sector deteriorated. On the other hand, the supply of electricity, gas and water supply rose at a faster rate. Mining and quarrying output contracted sharply, falling 17.6% compared to a 6.7% expansion in January. Meanwhile, the manufacturing sector grew at slower pace of 7.8% in February, down from 12.7% in the previous month. On the upside, the electricity, gas and water supply sector accelerated considerably, expanding 7.5% after rising a meager 1.7% in the month before.

On a month-on-month basis, industrial production contracted 0.2% in February, contrasting a revised 2.1% contraction in January (previously reported: -1.2% month-on-month). Annual average growth in industrial production inched down from 9.5% in January to 9.4% in February.

FocusEconomics Consensus Forecast panelists expect industrial production to grow 7.6% in 2018, which is up 0.4 percentage points from last month’s forecast. For 2019, the panel projects industrial output will expand 5.9%.


Author:, Economist

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Slovenia Industry February 2018 0

Note: Year-on-year and annual average growth of industrial production index in %.
Source: Statistical Office of the Republic of Slovenia (SORS).


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