Slovakia: Growth in industrial production moderates further in June

Industrial production expanded 2.1% year-on-year in June, down from May’s revised 2.9% increase (previously reported: +2.5% year-on-year). Growth came on the back of a healthy expansion in manufacturing, which more than offset contractions in mining and quarrying,; and in electricity, gas, steam and air-conditioning supply. Strong increases in the manufacture of transport equipment, and of coke and refined petroleum products, drove the manufacturing sector’s positive performance.

After adjusting for seasonal effects, industrial production was unchanged in month-on-month terms in June, following May’s 0.7% increase.

Meanwhile, annual average growth in industrial output ticked up from May’s 2.5% to 2.6% in June.

Slovakia Industrial Production Forecast

FocusEconomics Consensus Forecast panelists expect industrial production to increase 4.9% in 2018, which is unchanged from last month’s forecast. For 2019, the panel sees industrial production growth decelerating to 4.4%.