Slovakia Industry June 2020

Slovakia

Slovakia: Decline in industrial activity softens in June

August 10, 2020

Industrial output fell 8.5% compared to the same month of the previous year in June, which was far above May's 33.3% decrease.

June's smaller drop came on the back of a more moderate contraction in manufacturing. Moreover, mining and quarrying production registered a negligible contraction, after falling sharply in the prior month.

On a seasonally-adjusted monthly basis, industrial output rose at a quicker rate of 21.7% in June (May: +21.4% mom), the best result on record. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 10.6% in June, down from May's minus 10.1%.

FocusEconomics Consensus Forecast panelists project industrial production to fall 13.2% in 2020, which is down 1.4 percentage points from last month’s forecast. For 2021, the panel sees industrial production rising 9.3%.


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Slovakia Industry June 20 20

Note: Year-on-year and annual average variation of industrial production index in %.
Source: Statistical Office of the Slovak Republic (SOSR) and FocusEconomics calculations.


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