Slovakia Industry

Slovakia

Slovakia: Growth in industrial production hits 19-month high in July

September 10, 2015

Industrial production increased 11.9% annually in July, marking an acceleration compared to the revised 6.9% growth (previously reported: +6.4% year-on-year) tallied in June. July’s print represented the strongest increase since December 2013. According to the statistical institute, July’s result reflected a strong expansion in manufacturing output and a softer contraction in mining and quarrying. Conversely, electricity, gas, steam and air conditioning supply recorded a drop in July.

On a monthly basis, industrial production in July rose 0.8% in seasonally-adjusted terms, which followed the 1.2% increase tallied in June. As a result of July’s acceleration, annual average growth in industrial production rose from 3.1% in June to 3.7% in July.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 5.1% in 2015, which is unchanged from last month’s forecast. For 2016, the panel sees industrial output expanding 5.2%.


Author: Ricard Torné, Head of Economic Research

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Slovakia Industry July 2015

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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