Slovenia: Industrial production continues to contract in June
August 9, 2013
In June, industrial production fell a working-day adjusted 1.5% over the same month last year, exceeding the 1.3% drop seen in May and marking the fourth consecutive decline in industrial output. The figure mainly reflects contractions in manufacturing output as well as in mining and quarrying. Conversely, electricity, gas and water supply rebounded in June.
A month-on-month analysis does not corroborate the deterioration suggested by the annual data, as industrial output expanded a seasonally-adjusted 1.2% in June, contrasting the 0.8% drop seen in May.
As a result of the sharper annual contraction, the trend now points downwards, with annual average growth in industrial production falling from minus 0.6% in May to minus 0.9% in June, the lowest reading in nearly three years.
FocusEconomics Consensus Forecast panellists expect industrial production to contract 0.9% this year, which is unchanged from last month's Consensus. For 2014, the panel sees industrial output growth rebounding to 1.6%.