Slovakia Industry May 2021


Slovakia: Industrial output growth moderates in May

July 9, 2021

Industrial output grew 36.7% in year-on-year terms in May, which followed April's 69.1% increase. Looking at the details of the release, the print chiefly reflected softer manufacturing output growth compared to the previous month. In addition, mining and quarrying production fell in May. Meanwhile, annual average industrial production growth rose to 10.0% in May (April: +4.2%), signaling an improving trend in the industrial sector.

On a monthly basis, factory output decreased 2.4% in seasonally-adjusted terms in May, which was greater than April’s 0.9% fall and marked the worst result since April 2020..

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%.

Author:, Economist

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Slovakia Industry Chart

Slovakia Industry May 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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