Industrial Production in Slovakia
Over the past decade to 2022, Slovakia's economy recorded an average growth rate of 2.6% in industrial production, surpassing the 1.1% Euro Area average. In 2022, industrial production growth in Slovakia was -3.9%. For more industry information, visit our dedicated page.
Slovakia Industry Chart
Slovakia Industry Data
2018 | 2019 | 2020 | 2021 | 2022 | |
---|---|---|---|---|---|
Industrial Production (ann. var. %) | 6.0 | 0.8 | -8.5 | 10.3 | -4.0 |
Industrial activity falls at softer pace in December
Industrial production declined 0.1% year on year in December (November: -2.0% yoy). The softer drop was primarily driven by a rebound in manufacturing, and mining and quarrying. That said, a deterioration in energy production—which declined for the first time in eight months—capped the overall moderation. On a seasonally adjusted monthly basis, factory output rebounded, rising 3.5% in December (November: -4.0% mom s.a.). Meanwhile, the trend improved, with the annual average variation of industrial production coming in at an over one-year high of minus 0.6% in December, up from November's minus 1.6%.
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Slovak industry projections for the next ten years from a panel of 8 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable industry forecast available for Slovak industry.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Slovak industry projections.
Want to get access to the full dataset of Slovak industry forecasts? Send an email to info@focus-economics.com.
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