Slovakia Industry October 2021


Slovakia: Decline in industrial output softens in October

December 10, 2021

Industrial output slid 0.6% year-on-year in October (September: -4.8% yoy). The softer drop was partly due to a lower fall in manufacturing output.

On a monthly basis, factory output grew 3.0% in seasonally-adjusted terms in October, contrasting September’s 1.5% fall and marked the best result since November 2020. Meanwhile, the trend improved slightly, with the annual average growth of industrial production coming in at 10.0% in October, up from September's 9.8% reading.

FocusEconomics Consensus Forecast panelists project industrial production to grow 4.2% in 2022, which is down 0.7 percentage points from last month’s forecast. For 2023, the panel sees industrial production expanding 4.4%.


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Slovakia Industry Chart

Slovakia Industry October 2021

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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