Slovakia Industry December 2020


Slovakia: Industrial output grows at sharpest rate in nearly two years in December

February 10, 2021

Industrial production expanded 6.8% in annual terms in December 2020, above November’s 2.2% increase and the fastest pace in nearly two years. December’s reading was largely attributed to a stronger expansion in manufacturing, and mining and quarrying output. Accordingly, the trend improved notably, with the annual average variation of industrial production coming in at minus 8.6%, up from November’s minus 9.7%.

Meanwhile, on a seasonally adjusted and month-on-month basis, factory output tumbled 0.3% in December, contrasting November’s 3.1% rise.

FocusEconomics Consensus Forecast panelists project industrial production to grow 8.3% in 2021, which is down 0.9 percentage points from last month’s forecast. For 2022, the panel sees industrial production rising 4.1%.


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Slovakia Industry Chart

Slovakia Industry December 20 20 0

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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