Slovakia Industry March 2016


Slovakia: Industrial production in March records largest contraction since May 2015

May 12, 2016

Industrial production in March fell 1.4% annually, contrasting the revised 7.3% increase tallied in February (previously reported: +7.4% year-on-year). According to the statistical institute, March’s result, which marked a 10-month low, reflected a contraction in mining and quarrying as well as in manufacturing output. Growth in the electricity, gas, steam and air conditioning supply category decelerated in the same month.

On a monthly basis, industrial production in March fell 2.3% in seasonally-adjusted terms. The print contrasted the 2.4% increase tallied in February. As a result of the deceleration observed in the last few months, annual average growth in industrial production declined from 6.2% in February to 4.6% in March, which represented the lowest print in over two years.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 4.4% in 2016, which is up 0.1 percentage points from last month’s forecast. For 2017, the panel sees industrial output expanding 3.6%.

Author: Ricard Torné, Lead Economist

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Slovakia Industry Chart

Slovakia Industry March 2016

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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