Slovakia: Industrial production decelerates in February
April 10, 2014
Industrial output grew 9.1% over the same month last year in February, which was below the 12.8% expansion tallied in January. According to the statistical office, the expansion in total industrial production was driven by an expansion in the manufacture of transport equipment, electrical equipment, and rubber and other non-metallic mineral products. The overall deceleration compared to January, however, was caused by a reduction in the output of manufactured food, beverage and tobacco, pharmaceutical, textiles and chemical products.
On a monthly basis, industrial production dropped 0.2% in seasonally-adjusted terms, which contrasted the 1.9% increase tallied in January. The upward trend continued, with annual average growth in industrial production improving from 5.8% in January to 6.4% in February.
FocusEconomics Consensus Forecast panelists expect industrial production to increase 6.0% in 2014, which is up 0.4 percentage points from last month's forecast. For next year, the panel sees industrial output expanding 6.0%.
Author: Armando Ciccarelli, Head of Data Solutions