Slovakia: Industrial output slows down in March
May 10, 2013
In March, industrial output grew 1.6% over the same month last year, which came in above the 1.2% rise observed in February. According to the Statistical Office of the Slovak Republic (SOSR), the increase was mainly the result of a rise in manufacturing as well as in electricity, gas, steam and air-conditioning supply.
On a monthly basis, industrial production rose 0.3% in seasonally adjusted terms, which contrasted the 0.5% drop observed in February. Despite the relatively strong annual reading, the trend continues to point downwards, with annual average growth in industrial production deteriorating from 7.5% in February to 6.9% in March.
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%.