Slovakia Industry


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.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 5.3% in 2015, which is down 0.2 percentage points from last month’s forecast. For 2016, the panel sees industrial output expanding 5.5%.

Author:, Economist

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Slovakia Industry Chart

Slovakia Industry January 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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