Slovakia Industry January 2020

Slovakia

Slovakia: Industrial production rises for first time in six months in January

March 10, 2020

Industrial production rose 0.5% in January, contrasting December’s revised 6.9% contraction in December (previously reported: -7.1% year-on-year) and marking the first expansion since July last year. January’s upturn was largely driven by a rise in the utilities supply sector as well as in the mining and quarrying sector. Meanwhile, the manufacturing sector logged a contraction.

After adjusting for seasonal effects, industrial production increased 4.6% in January (December: -1.6% month-on-month, seasonally adjusted).

Meanwhile, annual average growth in industrial was flat in January, down from December’s 0.6% rise.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 1.7% in 2020, which is down 0.1 percentage points from last month’s forecast. For 2021, the panel sees industrial production growth accelerating to 2.9%.


Author:, Economist

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Slovakia Industry January 20 20

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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