Slovakia Industry


Industrial production maintains robust growth in January

Industrial output grew 12.9% over the same month last year in January, which was a notch higher than the 12.7% expansion tallied in December. According to the statistical office, the increase was driven by an expansion in manufacturing, which more than compensated for the decrease in electricity, gas, steam and air-conditioning supply, and in mining and quarrying. On a monthly basis, industrial production increased 1.9% in seasonally-adjusted terms, which contrasted the 1.1% contraction tallied in December and marked a twelve-month high. The trend continues to point upward; annual average growth in industrial production improved from 5.3% in December to 5.9% in January. FocusEconomics Consensus Forecast panelists expect industrial production to increase 5.6% in 2014, which is unchanged from last month's forecast. For next year, the panel sees industrial output expanding 6.1%.

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Slovakia Industry Chart

Slovakia Industry January 2014

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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