Slovakia Industry


Slovakia: Industrial production posts modest growth in December

February 10, 2015

Industrial production increased 0.7% in annual terms in December, which contrasted the 3.3% drop tallied in November. November’s drop marked the lowest reading in two years. According to the statistical office, December’s result reflected an increase in electricity, gas and air-conditioning supply, as well as in mining and quarrying. Conversely, manufacturing output declined compared to the same month last year.

On a monthly basis, industrial production rose 0.7% in seasonally-adjusted terms in December, which contrasted the 0.7% decline tallied in November. Despite December’s increase, annual average growth in industrial production declined from 4.5% in November to 3.5% in December.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 5.3% in 2015, which is down 0.2 percentage points from last month’s forecast. For 2016, the panel sees industrial output expanding 5.5%.

Author:, Economist

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Slovakia Industry Chart

Slovakia Industry December 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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