Slovakia Industry

Slovakia

Slovakia: Industrial production picks up again in May

July 10, 2014

Industrial output grew 6.1% over the same month last year in May, which exceeded the 5.0% expansion tallied in April and represented the largest gain in three months. According to the statistical office, May’s expansion was driven by an increase in the manufacture of transport products and basic metal and fabricated metal products, which more than compensated for a decline in the output of coke and refined petroleum products and in the output of food, beverages and tobacco products.

On a monthly basis, industrial production rose 0.7% in seasonally-adjusted terms, which was up marginally from the 0.6% increase tallied in April. The upward trend remained in place in May, with annual average growth in industrial production rising from 6.6% in April to 6.9%, thus marking the highest value since February 2013.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 6.2% in 2014, which is up 0.2 percentage points from last month’s forecast. For next year, the panel sees industrial output expanding 6.4%.


Author: Teresa Kersting, Economist

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Slovakia Industry May 2014

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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