Slovakia Industry August 2017

Slovakia

Slovakia: Industrial output growth contracts in August

October 16, 2017

Industrial production growth contracted 0.4% year-on-year in August, following July’s robust 9.2% expansion. The decline was mainly due to a contraction in the mining and quarrying sector and a smaller decline in output in the manufacturing sector, which was partially offset by growth in the electricity, gas, steam and air-conditioning sector. The mining and quarry sector has posted eight consecutive contractions since March 2017.

On the other hand, industrial production grew 2.4% in monthly terms after contracting 3.2% in July (previously reported: -3.3% month-on-month).

As a result of August’s contraction, annual average growth in industrial output fell from 6.0% in July to 4.5% in August.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 4.9% in 2018, which is unchanged from last month’s forecast. For 2019, the panel sees industrial growth decelerating to 4.4%.


Author:, Economist

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Slovakia Industry August 2017

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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