Slovakia Industry September 2021


Slovakia: Industrial output drops at sharpest rate since June 2020 in September

November 10, 2021

Industrial output declined 4.9% in year-on-year terms in September, which contrasted August's 0.7% increase. September's figure marked the worst reading since June 2020. The figure was largely due to a sharper drop in manufacturing production, which fell at the sharpest pace since June 2020. In addition, mining and quarrying output contracted sharply.

On a monthly basis, industrial production fell 1.6% in seasonally-adjusted terms in September, which was significantly better than August’s 4.0% fall. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 9.8%, down from August's 10.3% reading.

FocusEconomics Consensus Forecast panelists project industrial production to grow 4.9% in 2022, which is unchanged from last month’s forecast. For 2023, the panel sees industrial production rising 4.1%.


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Slovakia Industry Chart

Slovakia Industry September 2021

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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