Business News

Industrial Output Plunges 17.4% in 2009

Ljubljana, 10 February (STA) - Slovenia's industrial output rose 2.7% year-on-year in December, but for the whole of 2009 the picture is much bleaker: output dropped 17.4% compared to 2008, according to provisional data released by the Statistics Office Wednesday.

In December production in manufacturing rose 3.6% year-on-year, but it plunged 21.9% in mining and quarrying and 7.7% in electricity, gas and steam supply.

All three activities recorded steep drops for the whole of 2009. Mining and quarrying contracted by 3.4%, manufacturing by as much as 18.5% and electricity, gas and steam supply by 7.1%.

The slowdown in activity was coupled with a running-down of inventories, which dropped 1% over November. The drop was biggest in mining, where stocks were down 15.9%.

Year-on-year, inventories dropped only 0.3% in 2009.

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