Slovakia Industry October 2020

Slovakia

Slovakia: Industrial output drops more sharply in October

December 10, 2020

Industrial output contracted 2.5% in annual terms in October, dropping at a sharper pace than September’s 0.2% decline. October’s more pronounced drop was chiefly driven by a stronger drop in manufacturing output. Meanwhile, growth in mining and quarrying production eased notably in October.

On a monthly basis, factory output slid 1.2% in seasonally-adjusted terms in October, contrasting September’s 2.2% expansion. Meanwhile, the trend improved marginally, with the annual average variation of industrial production coming in at minus 10.2%, up from September’s minus 10.3% reading.

FocusEconomics Consensus Forecast panelists project industrial production to grow 8.2% in 2021, which is down 2.2 percentage points from last month’s forecast. For 2022, the panel sees industrial production rising 4.2%.


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Slovakia Industry October 20 20

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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