Slovenia: Industrial production contracts in September
November 9, 2012
In September, industrial production contracted a working-day adjusted 0.2% over the same month last year, contrasting the 4.3% expansion recorded in August and marking the first drop after three consecutive increases. According to the statistical institute, the fall was underpinned by contractions in mining and quarrying as well as in manufacturing, whereas electricity, gas and water rebounded from August's drop. A month-on-month comparison corroborates the deterioration suggested by the annual figure, as industrial production dropped a seasonally adjusted 2.3% in September, which contrasted the robust 4.0% rise recorded in August. As a result of the contraction, the trend now points downward, with annual average growth in industrial production falling from 0.9% in August to 0.7% in September.
Author: Ricardo Aceves, Senior Economist