Slovakia: Industrial production hits 10-month high in September
November 11, 2013
Industrial output grew 7.5% over the same month last year in September, which marked an improvement over the 4.5% expansion tallied in August (previously reported: +4.4% year-on-year). This is the strongest expansion since November 2012. According to the statistical office, the increase was mainly driven by growth in the manufacturing sector, which offset decreases in electricity, gas steam and air-conditioning supply, as well as in mining and quarrying.
On a monthly basis, industrial production added 1.0% in seasonally-adjusted terms, improving on the 0.7% increase tallied in August. Despite faster annual growth in September, the trend continues to point downward; annual average growth in industrial production deteriorated from 3.8% in August (previously reported: +3.9%) to 3.6% in September.
FocusEconomics Consensus Forecast panelists expect industrial production to increase 3.2% in 2013, which is up 0.7 percentage points from last month's forecast. For next year, the panel sees industrial output expanding 4.8%, which is unchanged from last month's estimate.