Slovakia Industry September 2016


Slovakia: Growth in industrial production drops markedly in September

November 11, 2016

In September, Slovakian industrial production grew 3.9% over the same month last year. The reading followed the revised massive 17.2% expansion in August (previously reported: +17.5% year-on-year). According to the Statistical Institute, September’s reading was driven by a rise in all three components of the index: manufacturing; electricity, gas, steam and air-conditioning supply; and mining and quarrying. While September’s print seems disappointing compared to August’s sharp rise, the latter had reflected a base effect, since holidays in the car manufacturing sector took place in July this year, while last year they took place in August.

On a monthly basis, industrial production also rose 3.9% in seasonally-adjusted terms in September. The print followed the substantial 28.2% expansion registered in August. Due to September’s milder figure, annual average growth in industrial production edged down from 4.4% in August to 4.1%.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 4.2% in 2016, which is down 0.2 percentage points from last month’s forecast. For 2017, the panel sees industrial output expanding 4.2%, which is also unchanged from last month’s projection.

Author:, Economist

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Slovakia Industry Chart

Slovakia Industry September 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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