In May, industrial output expanded 10.8% over the same month last year, which was a notch below the 10.9% increase observed in April. According to the Statistical Office of the Slovak Republic (SOSR), the monthly expansion was entirely driven by a strong rise in manufacturing output, while the mining and quarrying sector as well as the electricity, gas, steam and air conditioning category contracted. Meanwhile, the manufacture of transport equipment, which is significant due to the automotive industry's high penetration in the Slovak economy, rose 55.2% in May (April: +55.6% year-on-year). On a monthly basis, industrial production rose a healthy 2.2% in seasonally adjusted terms, after expanding a softer 0.4% in April. As a result of the slower annual growth, the trend is pointing downwards, with annual average growth in industrial production inching down from 6.7% in April to 6.6% in May.
Industrial output maintains pace in May
July 10, 2012
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Slovakia Industry Chart
Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: Statistical Office of the Slovak Republic (SOSR) and FocusEconomics calculations.
Slovakia Economic News
October 17, 2016
In September, consumer prices edged up 0.1% over the previous month, which contrasted the 0.1% drop registered in August.
October 11, 2016
In August, industrial production improved notably as it grew 17.5% from the same month last year, which was the highest rise since March 2008.
September 14, 2016
In August, consumer prices fell 0.1% over the previous month, which followed the 0.4% drop registered in July.
September 12, 2016
Industrial production dropped 14.3% annually in July, which contrasted the revised 2.3% expansion in June (previously reported: +2.2% year-on-year).
August 18, 2016
In July, consumer prices plunged 0.4% over the previous month, which contrasted the 0.1% rise tallied in June.