Slovenia - Industrial Production





Slovenia: Industrial Production

Mnemonic IP.ISVN
Unit Index 2015=100, SA
Adjustments Seasonally Adjusted
Monthly 1.78 %
Data Apr 2019 128.03
Mar 2019 125.79

Series Information

Source Statistical Office of the Republic of Slovenia
Release Industrial Production and Stocks
Frequency Monthly
Start Date 12/31/1991
End Date 4/30/2019

Slovenia: Business

Reference Last Previous Units Frequency
Business Confidence Jun 2019 100.01 100.4 Index long term avg=100, SA Monthly
Capacity Utilization 2019 Q2 84.8 85.2 %, SA Quarterly
Industrial Production Apr 2019 128.03 125.79 Index 2015=100, SA Monthly
Change in Inventories 2019 Q1 -14.93 272.11 Mil. EUR, CDASA Quarterly

Release Information

The purpose of the industrial production index (IPI) is to monitor current monthly changes of industrial production value. In theory the IPI shows developments in value added at factor cost in the observed month. The goal of the monthly measuring is early detection of changes in economic development. The IPI is suitable for short-term observation and analyses of economic development.

The purpose of stock indices is to monitor changes in stocks which indirectly show the production and sale dynamics, while the purpose of the labour productivity index is to monitor changes in productivity.

Observation units Are enterprises and their units performing one or more activities from the fields of Mining and quarrying (C), Manufacturing (D) and Electricity, gas, steam and hot water supply (part of E) of the Standard Classification of Activities. Division 41 (Collection, purification and distribution of water) and Group 40.3 (Steam and hot water supply) are excluded. Sources The source for the calculation of the IPI is the Monthly Questionnaire on Turnover, New Orders and Value of Stocks (IND-PN/M), which has been carried out as an independent survey since 2004 and in July 2005 replaced the monthly industrial report on the IND/M form, which had been carried out since 1952. The source of data is accounting documentation of enterprises. Before July 2005 the IPI was calculated from quantity data on the production of individual industrial products and services. The data source on persons in employment is the Statistical Register of Employment. Legal basis The survey is implemented on the basis of the National Statistics Act (OJ RS, No. 45/95 and 9/01), the Annual Program of Statistical Surveys for 2006 (OJ RS, No. 99/05), Council Regulation 1165/98 (OJ No L 162) and Council Regulations 1158/05 (OJ No L 191), 588/01 (OJ No L 86/18), 586/01 (OJ No L 86/11) and 1158/05 (OJ No L 191/1). Series of data Series of IPI calculated from value data on production are published in the SI-STAT Database (http://www.stat.si), from February 2004 to the current month, while IPI before February 2004 are calculated from quantity data. The SI-STAT Database also contains series of data calculated from quantity data for the January 1998-June 2005 period. We publish original indices at the 2-digit level of the Standard Classification of Activities, seasonally adjusted indices and working day adjusted indices for Total industry, Mining and quarrying, Manufacturing, Electricity, gas and water supply and also for the main industrial groups. Coverage The survey covers all industrial enterprises and establishments with at least twenty persons in paid employment according to the Statistical Register of Employment. In cases where such selection did not provide enough units within a particular activity of the Standard Classification of Activities, industrial enterprises and establishments with fewer than twenty persons employed were included. In this way the survey covers 83% of employees in sections C, D and E of the Standard Classification of Activities. Method of data collection The IND-PN/M survey is carried out monthly by mail. Reporting units send questioners to the Statistical Office by 20th in the current month with the data for the previous month. Definitions and explanationsIndustrial production indicesThe basis for calculating the IPI is data on the value of production, which is calculated according to the following formula:Value of production in the month x = turnover in the month x + value of stocks in the month x - value of stocks in the month x-1Value of production is deflated at the 4-digit level of the Standard Classification of Activities with producer price indices of manufactured goods. Weights are used (which are shares of value added) when aggregating the data and at calculation of IPI for the higher levels of classification. Shares are based on the data on value added from the year 2000 and are corrected every year with the IPI. The index is calculated by the Laspeyres formula.Calculation of the stock indexThe stock index is calculated from the data on value of stocks of finished and unfinished goods. Reporting units report the stocks according to the Slovenian Accounting Standards.Indices of persons in employment in the Statistical Register of EmploymentThe calculation covers persons in employment with employment contracts and self-employed persons who have compulsory social insurance, Employment can be permanent or temporary, full time or part time.Labour productivity indexLabour productivity index is defined as the ratio between the industrial production index and the index of persons in employment.Seasonally adjusted data on industrial production and the trendThe indices are seasonally adjusted with the Tramo/Seats method, which is based on ARIMA models. In designing the models we took into account the period from January 1998 to January 2007. Trend indices show the main direction of development and exclude the irregular component. Seasonally adjusted indices are indices that exclude the influence of the season, but include the trend-cycle and the irregular component. Working day adjusted indices are indices adjusted for the different number of working days in the observed period. In seasonal adjustment we take into account the number of working days and holidays in all those time series at which these two influences are statistically significant. Due to the nature of the data, there were changes in the models of some data series.

In First Releases only provisional data are published. Every year by the end of June final data for the previous year are published in the SI-STAT Database (for example - in June 2007 final data for 2006 are published).

http://www.stat.si/eng/index.asp