Slovenia Business Morale Weakens to 8-Month Low

Slovenia’s seasonally adjusted business tendency indicator in manufacturing fell by 5 points to -8 in February 2026 from -3 in January, marking the lowest level since June 2025. Production expectations declined to 5 from 12 in January, while assessments of overall order books worsened to -23 from -22 and export order books slipped to -25 from -24. At the same time, employment expectations deteriorated sharply to -1 from a positive 8 in the previous month. Meanwhile, current production was unchanged at 3, while selling price expectations rose to 13 from 10 and stocks of finished products increased to 5 from 0.

Slovenia’s seasonally adjusted business tendency indicator in manufacturing improved to -3 in January 2026, up from -4 in December 2025, marking its highest level since August 2022 and reflecting a continued increase in confidence since June 2025. The improvement was mainly due to stocks of finished products (0 vs 5) and overall order books (-20 vs -22). On the other hand, expected production declined (12 vs 15), prices are seen up (10 vs 5) and the labour hoarding increased (7 vs 5).

Slovenia’s seasonally adjusted business tendency indicator in manufacturing was steady for the second consecutive month at -4 in December 2025. This marks the highest level since January 2023, as employment trends improved, rising to 8 from 6 in November. The production outlook also strengthened, climbing to 15 from 13, while expectations for stocks of finished goods (5 vs 3 in November) and selling prices (5 vs 3) showed similar improvement. At the same time, sentiment remained positive for assessment of current production (3). Meanwhile, the outlook for export order books (-26) and overall order books (-23) was unchanged.