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.
Author: Nihad Ahmed, Economist