In July, industrial output expanded 18.5% over the same month last year, which was well above the robust 13.0% rise observed in June (previously reported: +11.3% year-on-year) and represented, in fact, the strongest expansion seen since December 2010. According to the Statistical Office of the Slovak Republic (SOSR), the monthly expansion continued to be entirely driven by resilient manufacturing output, while the mining and quarrying sector as well as the electricity, gas, steam and air conditioning category remained in the red. Meanwhile, the manufacture of transport equipment, which is significant due to the automotive industry's high penetration in the Slovak economy, surged 83.9% in July (June: +53.2% yoy). On a monthly basis, industrial production expanded 1.5% in seasonally adjusted terms, which contrasted the 1.0% contraction recorded in June. As a result of the stronger annual expansion in July, the trend continues to point upwards, with annual average growth in industrial production rising from 7.6% in June to 8.9%.
Industrial output reaches a near two-year high in July
September 10, 2012
Looking for forecasts related to Industry in Slovakia? Download a sample report now.
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.