Slovakia: Industrial production maintains robust growth in January
March 12, 2014
Industrial output grew 12.9% over the same month last year in January, which was a notch higher than the 12.7% expansion tallied in December. According to the statistical office, the increase was driven by an expansion in manufacturing, which more than compensated for the decrease in electricity, gas, steam and air-conditioning supply, and in mining and quarrying. On a monthly basis, industrial production increased 1.9% in seasonally-adjusted terms, which contrasted the 1.1% contraction tallied in December and marked a twelve-month high. The trend continues to point upward; annual average growth in industrial production improved from 5.3% in December to 5.9% in January. FocusEconomics Consensus Forecast panelists expect industrial production to increase 5.6% in 2014, which is unchanged from last month's forecast. For next year, the panel sees industrial output expanding 6.1%.
Author: Armando Ciccarelli, Head of Data Solutions