Slovakia Industry March 2017

Slovakia

Slovakia: Industrial production growth accelerates to seven-month high

May 12, 2017

In March, industrial production grew a strong 13.4% from the same month of the previous year, which marked a sharp acceleration from February’s 2.6% expansion and the best result since August 2016. According to the Statistical Institute, March’s surge was broad-based as it reflected increases in all three major categories. The manufacturing category grew at the fastest pace, recording a double-digit increase, followed by electricity, gas, steam and air-conditioning, while mining and quarrying came last.

On a monthly basis, industrial production rose 3.9% in seasonally-adjusted terms in March. The print contrasted February’s 0.6% drop. As a result, annual average growth in industrial production jumped from 4.7% in February to 5.7% in March, the highest figure in five months.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 4.0% in 2017, which is up 0.1 percentage points from last month’s forecast. For 2018, the panel sees industrial growth accelerating to 4.9%.


Author:, Economist

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Slovakia Industry March 2017

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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