Slovakia Industry

Slovakia

Slovakia: Growth in industrial production hits six-month low in May

July 10, 2015

Industrial production increased 1.3% annually in May, marking a deceleration compared to the 4.7% growth tallied in April. May’s print represented the weakest increase since November 2014. According to the statistical institute, May’s result reflected a drop in mining and quarrying. Growth in electricity, gas and air-conditioning supply and manufacturing decelerated in the same month.

On a monthly basis, industrial production rose 0.1% in seasonally-adjusted terms in May, which contrasted the 0.8% decrease tallied in April. As a result of the recent slowdown, annual average growth in industrial production fell from 3.7% in April to 3.4% in May.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 4.8% in 2015, which is unchanged from last month’s forecast. For 2016, the panel sees industrial output expanding 5.3%.


Author:, Economist

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Slovakia Industry May 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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