Skyline of Bratislava, Slovakia

Slovakia Industrial production January 2023

Slovakia: Industrial activity contracts at softer pace in January

Industrial production dropped 8.6% year on year in January (December: -10.7% yoy). January’s figure was likely due to a softer fall in manufacturing production; the all-important transport equipment sector recorded a smaller contraction. Meanwhile energy and mining output were not published for the fourth consecutive month, likely due to confidentiality issues.

On a monthly basis, industrial output decreased 1.4% in seasonally adjusted terms in January, which was below December’s 0.6% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 4.5%, down from December’s minus 3.6%.

On the outlook, analysts at the EIU commented:

“A warmer than anticipated 2022/23 winter has stabilised the energy price outlook for Slovakia’s manufacturing-oriented economy, abating fears of gas rationing or mass industrial shutdown. However, Slovakia continues to rely […] on expensive spot natural gas markets […] owing to historic underinvestment in energy independence. Energy prices remain problematic for energy-intensive industries, as evidenced by the shutdown of the Slovalco aluminium firm in September 2022, risking 300 jobs, with the US Steel blast furnaces in Kosice remaining shut down.”

Free sample report

Access essential information in the shortest time possible. FocusEconomics provide hundreds of consensus forecast reports from the most reputable economic research authorities in the world.
Close Left Media Arrows Left Media Circles Right Media Arrows Right Media Circles Arrow Quote Wave Address Email Telephone Man in front of screen with line chart Document with bar chart and magnifying glass Application window with bar chart Target with arrow Line Chart Stopwatch Globe with arrows Document with bar chart in front of screen Bar chart with magnifying glass and dollar sign Lightbulb Document with bookmark Laptop with download icon Calendar Icon Nav Menu Arrow Arrow Right Long Icon Arrow Right Icon Chevron Right Icon Chevron Left Icon Briefcase Icon Linkedin In Icon Full Linkedin Icon Filter Facebook Linkedin Twitter Pinterest