Slovakia: Industrial output rebounds in January
March 11, 2013
In January, industrial output rose 3.4% over the same month last year, which contrasted the 3.0% fall observed in December. According to the Statistical Office of the Slovak Republic (SOSR), the increase was mainly the result of a rise in electricity, gas, steam and air-conditioning supply as well as in manufacturing.
On a monthly basis, industrial production grew 1.9% in seasonally adjusted terms, which contrasted the 4.4% drop observed in December. Nonetheless, the trend continues to point downwards, with annual average growth in industrial production deteriorating from 8.2% in December to 8.0% in January.
FocusEconomics Consensus Forecast panellists expect industrial production to increase 2.1% in 2013, which is unchanged from last month's forecast. For next year, the panel sees industrial output expanding 5.7%.