Slovakia Industry November 2019

Slovakia

Slovakia: Industrial production contracts for fourth month straight in November

January 10, 2020

Industrial production fell 4.4% in November, following October’s revised 4.0% decline (previously reported: -3.9% year-on-year), and marking the fourth straight month of downturns in industrial activity. November’s decrease reflected a slide in manufacturing output as well as in the utilities supply sector. Meanwhile, the mining and quarrying sector posted an expansion.

After adjusting for seasonal effects, industrial production fell 0.3% month-on-month in November (October: -0.5% month-on-month, seasonally adjusted).

Meanwhile, annual average growth in industrial output dropped from 2.0% in October to 1.4% in November, marking the lowest reading in over five-and-a-half years.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 2.1 in 2020, which is down 0.8 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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