Slovakia Industry

Slovakia

Slovakia: Industrial production drops in November

January 12, 2015

Industrial production decreased 3.3% in November, which contrasted the 2.8% increase tallied in October and marked the lowest figure since December 2012. According to the statistical office, November’s result reflected a strong decline in manufacturing output, as well as in mining and quarrying. Conversely, electricity, gas and air-conditioning supply registered an increase compared to the same month last year.

On a monthly basis, industrial production fell 0.7% in seasonally-adjusted terms in November, which contrasted the 1.1% rise recorded in October. As a result of November’s marked drop, annual average growth in industrial production? declined from 5.9% in October to 4.5% in November.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 5.3% in 2015, which is down 0.2 percentage points from last month’s forecast. For 2016, the panel sees industrial output expanding 5.5%.


Author:, Economist

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Slovakia Industry November 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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