Slovakia Industry

Slovakia

Slovakia: Industrial production growth accelerates in June

August 8, 2014

Industrial output in June grew 7.5% over the same month last year, which exceeded the 4.7% expansion tallied in May and represented the largest gain in four months. According to the statistical office, June’s expansion was driven by an increase in the manufacture of transport products and basic metal and fabricated metal products. This expansion more than offset a drop in the output of coke and refined petroleum products and in the output of textiles and leather products.

On a monthly basis, industrial production rose 0.6% in seasonally-adjusted terms, matching May’s result. The upward trend remained in place in June, with annual average growth in industrial production rising from 6.3% in May to 6.7%, thus marking the highest value since March 2013.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 6.2% in 2014, which is unchanged from last month’s forecast. For next year, the panel sees industrial output expanding 6.4%.


Author: Teresa Kersting, Economist

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Slovakia Industry June 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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