Slovakia Industry April 2021

Slovakia

Slovakia: Industrial output growth accelerates markedly in April

June 10, 2021

Industrial output expanded 69.0% compared to the same month a year earlier in April, which was above March's 24.6% increase. April's reading marked the best result on record, albeit it was driven by a low base effect. The reading reflected a broad-based improvement, with activity in the manufacturing, mining and quarrying and electricity, gas and steam supply sub-sectors all improving in April. Meanwhile, the trend improved, with the annual average variation of industrial production coming in at plus 4.2%, contrasting March's minus 5.0%.

On a seasonally-adjusted monthly basis, industrial output fell 1.0% in April (March: +0.5% mom).

FocusEconomics Consensus Forecast panelists project industrial production to grow 10.8% in 2021, which is up 1.5 percentage points from last month’s forecast. For 2022, the panel sees industrial production rising 4.5%.


Author:, Economist

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Slovakia Industry April 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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