Slovakia Industry January 2021


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

March 10, 2021

Industrial production dropped 3.9% in January (December: +6.7% yoy). The figure marked the sharpest drop since June 2020. January's downturn was largely due to a fall in manufacturing output, which swung into contraction.

On a seasonally-adjusted monthly basis, industrial production rose 0.7% in January. Bouncing back from December’s 0.3% decline. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 8.9% in January, down from December's minus 8.6%.

FocusEconomics Consensus Forecast panelists project industrial production to grow 9.9% in 2021, which is up 1.6 percentage points from last month’s forecast. For 2022, the panel sees industrial production rising 4.6%.


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Slovakia Industry Chart

Slovakia Industry January 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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