Slovakia Industry November 2020

Slovakia

Slovakia: Industrial output grows at fastest pace since May 2019 in November

January 11, 2021

Industrial production rebounded 2.2% in annual terms in November, contrasting October’s 2.6 drop, and logging the best reading since May 2019. November’s upturn was largely attributed to rebounding manufacturing output.

On a monthly basis, factory output grew 3.1% in seasonally-adjusted terms in November, swinging up from October’s 1.1% contraction. Accordingly, the trend improved further, with the annual average variation of industrial production coming in at minus 9.7%, up from October’s minus 10.2%.

FocusEconomics Consensus Forecast panelists project industrial production to grow 9.2% in 2021, which is up 1 percentage points from last month’s forecast. For 2022, the panel sees industrial production rising 4.1%.


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