Slovakia Industry July 2022

Slovakia

Slovakia: Industrial output deteriorates in July

September 9, 2022

Industrial output declined 6.4% year on year in July (June: -5.6% yoy). Looking at the details of the release, manufacturing output dropped at a sharper rate in July, and mining and quarrying output swung to contraction. Meanwhile, electricity, gas and steam supply output dropped at a softer pace.

On a monthly basis, industrial output grew 1.2% in seasonally-adjusted terms in July, rebounding from June’s 1.8% fall. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 1.5%, down from June's minus 0.5%.

FocusEconomics Consensus Forecast panelists project industrial production to grow 1.2% in 2022, which is up 0.1 percentage points from last month’s forecast. For 2023, the panel sees industrial production expanding 3.7%.


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Slovakia Industry July 2022

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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