Slovakia Industry February 2016

Slovakia

Slovakia: Industrial production accelerates in February

April 11, 2016

Industrial production in February expanded 7.4% annually, following the revised 1.7% increase tallied in January (previously reported: +1.6% year-on-year). According to the statistical institute, February’s result, which marked a three-month high, reflected an acceleration in manufacturing output, a rebound in the electricity, gas, steam and air conditioning supply category as well as a softer drop in mining and quarrying.

On a monthly basis, industrial production in February rose 2.4% in seasonally-adjusted terms. The print contrasted the 1.1% decrease tallied in January. As a result of the deceleration observed in the last few months, annual average growth in industrial production fell from 6.5% in January to 6.2% in February, which represented the lowest print in nearly two years.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 4.3% in 2016, which is down 0.1 percentage points from last month’s forecast. For 2017, the panel sees industrial output expanding 3.7%.


Author: Ricard Torné, Head of Economic Research

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Slovakia Industry February 2016 0

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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