Slovakia: Growth in industrial production slows in January
March 12, 2015
Industrial production increased 2.4% in annual terms in January, which came in below the 2.8% rise tallied in December. According to the statistical office, January’s result reflected an increase in electrical equipment, basic metals, and food products. Conversely, manufactures of transport equipment as well as wood, paper and printing products, recorded lower growth than in the same month of last year.
On a monthly basis, industrial production dropped 0.1% in January in seasonally-adjusted terms, which contrasted the 0.7% expansion registered in December and marked the lowest reading since November of last year. As a result of January’s decline, annual average growth in industrial production decreased from 3.8% in December to 3.5% in January.
Author: Cecilia Simkievich, Economist