Slovakia Industry


Industrial production accelerates in May

In May, industrial output grew 2.6% over the same month last year, which came in above the revised 2.4% rise observed in April (previously reported: +2.2% year-on-year). According to the statistical office, the increase was due to growth in the manufacturing sector as well as in mining and quarrying.

On a monthly basis, industrial production added 0.2% in seasonally adjusted terms, which contrasts the 1.9% decrease observed in April. Despite faster annual growth in May, the trend continues to point downwards, with annual average growth in industrial production deteriorating from 6.5% in April to 5.9%.

FocusEconomics Consensus Forecast panellists expect industrial production to increase 1.4% in 2013, which is unchanged from last month's forecast. For next year, the panel sees industrial output expanding 5.7%.


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Slovakia Industry Chart

Slovakia Industry May 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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