Slovenia: Industrial production records largest drop in five months
October 10, 2013
In August, industrial production contracted 3.2% from the same month last year, marking a deterioration over the 0.4% decrease recorded in July (previously reported: 0.0% year-on-year). The reading marks the largest drop recorded since March this year. According to the statistical office, the August figure mainly reflects a deterioration in manufacturing output and mining and quarrying. Conversely, electricity, gas and water supply improved compared to July.
On a monthly basis, industrial output increased a seasonally-adjusted 0.3% in August, contrasting the 0.1% decline seen in July. Meanwhile, average growth in industrial production edged down from minus 1.2% in July to minus 1.8% in August.
FocusEconomics Consensus Forecast panelists expect industrial production to contract 1.3% this year, which is down 0.3 percentage points from last month's Consensus. For 2014, the panel sees industrial output growth rebounding to 1.6%, which is down 0.1 percentage points over the past month's estimate.