Slovakia Industry


Slovakia: Industrial production growth moderates in July

September 11, 2014

Industrial output in July grew 4.4% over the same month last year, which came in below the 7.6% expansion tallied in June and represented the lowest gain since April. According to the statistical office, July’s expansion was driven by increases in the manufacture of basic metal and fabricated metal products as well as of electrical and transport products. These expansions more than offset a drop in the output of coke and refined petroleum products and in the output of chemical products.

On a monthly basis, industrial production rose 0.2% in seasonally-adjusted terms, which represents a deceleration compared to June’s 0.6% expansion. The upward trend remained in place in July, with annual average growth in industrial production rising from 6.7% in June to 6.8%, 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 Chart

Slovakia Industry July 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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