Slovakia Industry June 2021

Slovakia

Slovakia: Industrial output growth moderates in June, mostly due to base effect

August 10, 2021

Industrial output expanded 13.7% year-on-year in June (May: +36.7% yoy). The figure was largely due to lower growth in manufacturing output. In addition, mining and quarrying output fell markedly.

On a monthly basis, industrial production rose 2.9% in seasonally-adjusted terms in June, rebounding from May’s 2.3% fall and marking the best result since November 2020. Meanwhile, annual average industrial production growth rose to 11.9% in June (May: +10.1%). This signals an improving trend in the industrial sector.

FocusEconomics Consensus Forecast panelists project industrial production to grow 12.6% in 2021, which is down 0.2 percentage points from last month’s forecast. For 2022, the panel sees industrial production rising 5.1%.


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Slovakia Industry June 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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