Slovakia Industry October 2019

Slovakia

Slovakia: Industrial production continues to contract in October

December 10, 2019

Industrial production fell 3.9% year-on-year in October, following September’s 2.5% dip and marking the third consecutive month of contraction. October’s decline reflected a drop in manufacturing output, while both the mining and quarrying, and utilities supply sectors logged expansions.

After adjusting for seasonal effects, industrial production fell 0.7% month-on-month in October (September: +1.3% month-on-month, seasonally adjusted).

Meanwhile, annual average growth in industrial output dropped from 2.9% in September to 2.0% in October, marking the lowest print in over five-and-a-half years.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 2.9 in 2020, which is down 0.2 percentage points from last month’s forecast. For 2021, the panel sees industrial production growth accelerating to 2.7%.


Author:, Economist

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Slovakia Industry October 2019

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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