Slovakia Industry November 2018


Slovakia: Industrial output slows in November

January 10, 2019

Industrial production rose 3.3% on an annual basis in November, decelerating from October’s logged 6.2% increase. The headline reading was dragged by a fall in the supply of electricity, gas, steam and air-conditioning, as well as contracting mining and quarrying activity. On a brighter note, manufacturing output expanded from a month prior, amid higher production of transport equipment, and pharmaceutical products and preparations.

After adjusting for seasonal effects, industrial production decreased by 0.9% over the previous month in November, contrasting October’s 1.2% month-on-month increase.

Meanwhile, annual average growth in industrial output edged down from October’s 4.5% to 4.4% in November. On 10 January, the Statistical Institute revised its methodology to calculate industrial production, which lifted previous annual and monthly figures.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 5.0% in 2019, which is unchanged from last month’s forecast. For 2020, the panel sees industrial production growth decelerating to 2.6%.


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Slovakia Industry Chart

Slovakia Industry November 2018 2

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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