Slovakia Industry April 2016


Growth in industrial production hits a five-month high in April

Industrial production rose 7.2% annually in April, contrasting the 1.4% decrease tallied in March. According to the Statistical Institute, April’s result, which marked a five-month high, reflected a rebound in manufacturing output. Conversely, the contraction in mining and quarrying deepened in the same month, while the electricity, gas, steam and air conditioning supply category dipped into the red.

On a monthly basis, industrial production rose 3.0% in seasonally-adjusted terms in April. The print contrasted the 2.3% decrease tallied in March. As a result of the weak readings observed in the last few months, annual average growth in industrial production declined from 4.6% in March to 4.4% in April, which represented the lowest print in over two years.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 4.4% in 2016, which is up 0.1 percentage points from last month’s forecast. For 2017, the panel sees industrial output expanding 3.6%.

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Slovakia Industry Chart

Slovakia Industry April 2016

Note: Year-on-year and annual average variation of industrial production index in %.
Source: Statistical Office of the Slovak Republic (SOSR) and FocusEconomics calculations.

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