After contracting in the second quarter, production volume in manufacturing contracted further in July (seasonally adjusted). Compared to June, production fell by 2.1% (seasonally adjusted), with all industry groups according to technology intensity contributing to the decline, with the exception of medium-technology industries. In the first seven months, manufacturing production remained largely unchanged year-on-year. Production in medium-low technology industries was slightly higher year-on-year in the first seven months, as was production in medium-high technology industries. Only the manufacture of other machinery and equipment, the repair and installation of machinery and equipment and the energy-intensive manufacture of other non-metallic mineral products (largely related to construction activity) were down year-on-year. Production in most low- and high-technology industries was lower in the first seven months than a year earlier. The sharpest declines were recorded in the furniture and wood-processing industry as well as in the leather industry.

According to data on the value of construction work put in place, construction increased slightly in July, although it remained significantly lower than in the same month last year. After experiencing robust growth at the beginning of last year, the value of construction work put in place gradually declined both last year and in the first half of this year, with monthly fluctuations. In July, it was 12% lower compared to the same month last year. The largest year-on-year decline was recorded in civil engineering (by 21%). Activity also decreased in the construction of buildings and specialised construction activities. This lower activity was (among others) related to government investment activity. While government investment expenditure (according to the consolidated general government budgetary accounts) remained nearly unchanged in the first seven months of the year compared to the same period last year (-3%), expenditure on new construction, reconstruction, and renovation, which has a bigger impact on construction activity, dropped by as much as 26%. 

The surplus of the current account of the balance of payments increased in July, mainly due to the trends in trade in goods. The 12-month current account surplus was also higher than a year earlier, amounting to EUR 3 billion (4.6% of estimated GDP for 2024). The year-on-year increase was mainly due to a higher surplus in trade in goods. Primary and secondary income also contributed to the improvement in the current account balance. The primary income deficit decreased due to lower net outflows of income from equity capital (dividends and profits) and higher net interest receipts by the Bank of Slovenia from deposits in foreign accounts. The secondary income deficit decreased due to higher net positive transfers to the government sector from abroad (funds for current international cooperation from the EU budget) and higher private sector transfers (payments of non-life insurance premiums). The surplus in trade in services was lower than a year ago mainly due to lower surplus in trade in travel services.

In August, electricity consumption in the distribution network was higher year-on-year. The main reason for this was higher industrial consumption (4.2% year-on-year), largely due to the effects of last year's low base as a consequence of floods and their impact on production processes in certain companies. Small business consumption was 1.8% lower year-on-year in August, while household consumption was similar to last year’s level. The low base effect was not noticeable in household consumption, as their electricity consumption increased in the days following the floods last year, mainly due to the drying of properties.