Slovakia Industry September 2022


Slovakia: Decline in industrial activity softens in September

November 10, 2022

Industrial output dropped 1.9% year on year in September (August: -2.0% yoy). September's smaller drop was partly driven by faster growth in manufacturing output. In addition, mining and quarrying output rebounded. That said, energy output fell at a steeper rate.

On a seasonally adjusted monthly basis, industrial output fell at a more moderate pace of 0.8% in September (August: -0.9% mom). Meanwhile, the trend improved slightly, with the annual average variation of industrial production coming in at minus 1.5% in September, up from August's minus 1.7% reading.

FocusEconomics Consensus Forecast panelists project industrial production to contract 2.2% in 2023, which is up 0.1 percentage points from last month’s forecast. For 2024, the panel sees industrial production expanding 5.0%.


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Slovakia Industry Chart

Slovakia Industry September 2022

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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