Slovakia: Industrial production reaches record high in November
January 10, 2014
Industrial output grew 12.6% over the same month of the previous year in November 2013, which was up from the 7.0% expansion tallied in October (previously reported: +6.8% year-on-year) and marked the highest reading since January 2011. According to the statistical office, the print reflected a strong expansion in manufacturing followed by a rise in mining and quarrying, whereas production of electricity, gas and steam registered flat growth.
On a monthly basis, industrial production added 1.9% in seasonally-adjusted terms, which was well above the 0.4% increase tallied in October. As a result, the trend now points upwards; annual average growth in industrial production improved from 3.4% in October to 3.8% in November.
FocusEconomics Consensus Forecast panelists expect industrial production to increase 3.5% in 2014, which is up 0.3 percentage points from last month's forecast. For 2015, the panel sees industrial output expanding 4.9%.