Slovakia Industry

Slovakia

Slovakia: Industrial production decelerates further in April

June 11, 2014

Industrial output grew 5.0% over the same month last year in April, which was below the 5.9% expansion tallied in March and represented the lowest gain in eight months. According to the statistical office, April’s expansion was driven by an increase in the manufacture of transport products as well as basic metal and fabricated metal products. The overall deceleration compared to March, however, was caused by a reduction in output of coke and refined petroleum products and in the output of textiles, apparel, leather and related products.

On a monthly basis, industrial production rose 0.6% in seasonally-adjusted terms, which was up from the 0.2% increase tallied in March. The upward trend continued in April, with annual average growth in industrial production improving slightly from 6.5% in March to 6.6%, which marked the highest value since March 2013.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 6.0% in 2014, which is down 0.1 percentage points from last month’s forecast. For next year, the panel sees industrial output expanding 6.2%.


Author: Teresa Kersting, Economist

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Slovakia Industry April 2014

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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