Slovakia: Industrial production hits a seven-month high in August
October 9, 2013
Industrial output grew 4.4% over the same month last year in August, which was double the 2.2% rise registered in July. The increase marks the strongest expansion recorded since January. According to the statistical office, the increase was due to broad-based growth in the manufacturing sector, whereas the main fall was registered in energy production.
On a monthly basis, industrial production added 0.7% in seasonally-adjusted terms, improving on the 0.1% increase tallied in July. Despite faster annual growth in August, the trend continues to point downward, with annual average growth in industrial production deteriorating from 4.5% in July to 3.9% in August.
FocusEconomics Consensus Forecast panelists expect industrial production to increase 2.5% in 2013, which is up 0.2 percentage points from last month's forecast. For next year, the panel sees industrial output expanding 4.8%, which is up 0.1 percentage points from last month's estimate.