Slovenia's Industrial Production

12.02.2024

Slovenia's industrial sector kicked off 2024 with remarkable momentum, posting a 12.2% year-on-year increase in output this January—its strongest performance since June 2021. The rebound follows a 3.8% contraction in December and signals a significant shift in economic activity.

The surge was primarily driven by revitalized manufacturing performance and increased activity in the mining and quarrying industries. However, this growth was partially offset by an accelerated decline in energy supply production.

In seasonally adjusted terms, monthly industrial output soared by 10.6%, sharply reversing the 1.8% dip recorded in December. This marks the most robust monthly increase on record.

The improved performance has also helped narrow the broader trend of contraction, with the annual average decline in industrial production easing to -3.1% from -4.6% the previous month.

For investors and analysts, these figures may indicate renewed industrial confidence and present a positive signal for Slovenia’s economic outlook in 2024.

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