Slovenia: Industrial production records third consecutive decline in May
July 10, 2013
In May, industrial production fell a working-day adjusted 1.3% over the same month last year, which was down from the 1.1% drop seen in April and marks the third consecutive decline in industrial output. The figure mainly reflects contractions in manufacturing output as well as in electricity, gas and water supply. On the other hand, mining and quarrying 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 0.8% in May, which contrasts the 1.1% rise seen in April.
Despite the annual contraction, the trend now points upwards, with annual average growth in industrial production stepping up from minus 0.8% in April to minus 0.6% in May.
FocusEconomics Consensus Forecast panellists expect industrial production to expand 0.9% this year, which is down 1.1 percentage points from last month's Consensus. For 2014, the panel sees industrial output growth accelerating to 1.6%.