Slovenia: Industrial production remains strong in March
May 10, 2011
In March, industrial output expanded 7.1% over the same month the previous year, which was below February's 7.7% increase. Meanwhile, industrial production in the first quarter climbed 9.0% over the same period last year (Q4 2010: +13.1% year-on-year). The strong March expansion in industrial production was mainly driven by manufacturing and, to a lesser extent, electricity, gas and water, while mining and quarrying contracted. Seasonally adjusted data do not corroborate the slowdown suggested by the annual data, as industrial production expanded 2.2% over the previous month (February: +1.7% month-on-month). Nevertheless, the trend has apparently surpassed its peak and weakened for the first time since October 2009, with annual average growth in industrial production inching down from 9.3% in February to 9.2% in March.