Slovakia Industry December 2019

Slovakia

Slovakia: Industrial production growth slumps to four-month low in December

February 10, 2020

Industrial production plunged 7.1% in December, following November’s 4.4% decline, and thus marking the fifth consecutive month of contracting industrial activity and the fastest contraction since August 2019. December’s dive was chiefly driven by a fall in manufacturing output, particularly in the production of transport equipment, as well as in the utilities supply sector. Meanwhile, the mining and quarrying sector clocked a rise.

After adjusting for seasonal effects, industrial production declined 1.4% in December (November: -0.4% month-on-month, seasonally adjusted).

Meanwhile, annual average growth in industrial output dropped from 1.5% in November to 0.5% in December, marking the lowest reading in over six years.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 1.8% in 2020, which is down 0.3 percentage points from last month’s forecast. For 2021, the panel sees industrial production growth accelerating to 2.9%.


Author:, Economist

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Slovakia Industry December 2019

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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