Slovakia Industry


Industrial production hits a seven-month high in August

Industrial output grew 4.4% over the same month last year in August, which was double the 2.2% rise registered in July. The increase marks the strongest expansion recorded since January. According to the statistical office, the increase was due to broad-based growth in the manufacturing sector, whereas the main fall was registered in energy production.

On a monthly basis, industrial production added 0.7% in seasonally-adjusted terms, improving on the 0.1% increase tallied in July. Despite faster annual growth in August, the trend continues to point downward, with annual average growth in industrial production deteriorating from 4.5% in July to 3.9% in August.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 2.5% in 2013, which is up 0.2 percentage points from last month's forecast. For next year, the panel sees industrial output expanding 4.8%, which is up 0.1 percentage points from last month's estimate.


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Slovakia Industry Chart

Slovakia Industry August 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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