Slovenia: Industrial production decelerates in July
September 10, 2012
In July, industrial production grew a working-day adjusted 1.9% over the same month last year, which marked a deceleration over the 2.6% expansion recorded in June. According to the statistical office, weaker growth in manufacturing and a slowdown in electricity, gas and water supply, were the main drivers behind the monthly reading. A month-on-month comparison showed a sharper deterioration than the slowdown suggested by the annual figures, as industrial output contracted a seasonally adjusted 2.3% in July, which contrasted the 2.7% expansion observed in June. Despite the subdued July print, the trend maintains its upward momentum, with annual average growth in industrial production inching up from 0.2% in June to 0.3% in July.
Author: Ricardo Aceves, Senior Economist