Slovakia Industry July 2021

Slovakia

Slovakia: Industrial output records slowest growth since since February in July

September 10, 2021

Industrial output rose 7.8% year-on-year in July (June: +13.8% yoy). July's outturn marked the worst reading since February. July's notable downturn in growth was driven by easing manufacture, repair and installation of machinery and equipment production, as well as in pharmaceuticals and mining and quarrying.

On a monthly basis, industrial output grew 1.0% in seasonally-adjusted terms in July, which was notably below June’s 3.1% expansion. Meanwhile, the trend improved sizably, with the annual average growth of industrial production coming in at plus 10.1% in July, up from June's 9.2% reading.

FocusEconomics Consensus Forecast panelists project industrial production to grow 11.5% in 2021, which is down 1.1 percentage points from last month’s forecast. For 2022, the panel sees industrial production rising 4.9%.


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Slovakia Industry July 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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