Slovakia Industry March 2019

Slovakia

Slovakia: Industrial production hits two-year high in March

May 10, 2019

Industrial production rose 7.3% on an annual basis in March, accelerating from February’s 5.6% increase. Soaring manufacturing output and a marked increase in utilities supply drove the acceleration. In contrast, mining and quarrying activity plummeted, restraining the overall expansion.

After adjusting for seasonal effects, industrial production increased 1.2% month-on-month in March (February: +0.2% month-on-month s.a.).

Meanwhile, annual average growth in industrial output climbed to 5.7% in March, up from February’s 5.1% expansion.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 4.9% in 2019, which is unchanged from last month’s forecast. For 2020, the panel sees industrial production growth decelerating to 2.8%.


Author:, Economist

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Slovakia Industry March 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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