Slovakia Industry January 2016


Slovakia: Growth in industrial production decelerates further in January

March 11, 2016

Industrial production expanded 1.6% annually in January, following the revised 6.0% increase tallied in December (previously reported: +8.2% year-on-year). According to the statistical institute, January’s result, which marked a three-month low, reflected a deceleration in manufacturing output and steeper declines in both mining and quarrying as well as the electricity, gas, steam and air conditioning supply category.

On a monthly basis, industrial production in January fell 1.2% in seasonally-adjusted terms. The print followed the 0.5% decrease tallied in December. As a result of the deceleration observed in the last few months, annual average growth in industrial production fell from 7.1% in December to 6.5% in January.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 4.6% in 2016, which is down 0.2 percentage points from last month’s forecast. For 2017, the panel sees industrial output expanding 4.4%.

Author: Ricard Torné, Lead Economist

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Slovakia Industry Chart

Slovakia Industry January 2016

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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