Slovakia Industry May 2018


Slovakia: Growth in industrial production softens in May

July 12, 2018

Industrial production expanded 2.5% year-on-year in May, down from April’s revised 4.1% increase (previously reported: +4.2% 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 increased 0.8% in month-on-month terms, following April’s weaker 0.2% increase.

Meanwhile, annual average growth in industrial output remained stable at April’s 2.5% in May.

Slovakia Industrial Production

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%.

Author: Massimo Bassetti, Senior Economist

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Slovakia Industry Chart

Slovakia Industry May 2018

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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