Slovakia Industry


Industrial production expands at a slower pace in October

Industrial output grew 6.8% over the same month last year in October, which was down from the 7.4% expansion tallied in September (previously reported: +7.6% year-on-year). According to the statistical office, the print reflected that the strong expansion in manufacturing more than offset decreases in electricity, gas and air conditioning supply as well as in mining and quarrying.

On a monthly basis, industrial production added 0.4% in seasonally-adjusted terms, which halved the 0.8% increase tallied in September (previously reported: +1.0%). The trend continues to point downward; annual average growth in industrial production deteriorated from 3.6% in September to 3.4% in October, the lowest level in more than three years.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 3.5% in 2013, which is up 0.3 percentage points from last month's forecast. For next year, the panel sees industrial output expanding 4.9%, which is up 0.1 percentage points from last month's estimate.


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Slovakia Industry Chart

Slovakia Industry October 2013

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.

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