Slovakia: Industrial production moderates in December
February 10, 2014
Industrial output grew 12.2% over the same month of the previous year in December, which was a notch down from the 12.6% expansion tallied in November. According to the statistical office, the increase was driven by an expansion in the manufacture of transport equipment, basic metals and fabricated metal products. Production decreased in coke manufacturing and refined petroleum products, as well as in manufacture of pharmaceutical products and preparations.
On a monthly basis, industrial production fell 1.2% in seasonally-adjusted terms, which contrasted the 1.8% increase tallied in November. The trend continues to point upward; annual average growth in industrial production improved from 3.8% in November to 5.2% in December. In the full year 2013, industrial production expanded 5.2%, which was down from the 7.9% rise tallied in 2012.
FocusEconomics Consensus Forecast panelists expect industrial production to increase 5.3% in 2014, which is unchanged from last month's forecast. For next year, the panel sees industrial output expanding 6.3%.