Slovakia Industry July 2019

Slovakia

Slovakia: Industrial production rebounds in July

September 10, 2019

Industrial production expanded 2.8% year-on-year in July, contrasting June’s 1.9% fall, which had marked an over-two-year low. A breakdown by sub-components revealed that all sub-sectors expanded in July. Within the important manufacturing sub-sector, the fastest increases were recorded for the manufacture of electrical equipment and of machinery and equipment.

After adjusting for seasonal effects, industrial production increased 0.7% month-on-month in July (June: -1.4% month-on-month, seasonally adjusted).

Meanwhile, annual average growth in industrial output dropped to 4.9% from 5.1% a month prior.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 5.3% in 2019, which is unchanged from last month’s forecast. For 2020, the panel sees industrial production growth decelerating to 3.3%.


Author: Massimo Bassetti, Economist

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Slovakia Industry July 2019 0

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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