Slovakia Industry

Slovakia

Slovakia: Industrial production declines for first time in nine months in August

October 9, 2015

Industrial production declined 0.5% annually in August, contrasting the 11.9% growth tallied in July. August’s print represented the first annual drop since December 2014. According to the statistical institute, August’s result reflected a drop in mining and quarrying as well as in electricity, gas, steam and air conditioning supply. Growth in manufacturing output slowed sharply in the same month.

On a monthly basis, industrial production in August fell 1.6% in seasonally-adjusted terms. The print contrasted the 1.2% increase tallied in July and marked a 32-month low. As a result of August’s deterioration, annual average growth in industrial production fell from 3.7% in July to 3.5%.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 5.1% in 2015, which is unchanged from last month’s forecast. For 2016, the panel sees industrial output expanding 4.9%, which is also unchanged from last month’s forecast.


Author: Ricard Torné, Head of Economic Research

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Slovakia Industry August 2015

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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