Slovakia Industry June 2019

Slovakia

Slovakia: Industrial production sinks to over-two-year low in June

July 10, 2019

Industrial production fell 2.1% year-on-year in June, an over-two-year low, which contrasted May’s 4.7% increase. A breakdown by sub-components revealed that a contraction in the manufacturing sector drove the downturn. Meanwhile, growth in mining and quarrying gathered momentum, while growth in utilities supply slowed.

After adjusting for seasonal effects, industrial production dropped 1.4% month-on-month in June (May: +0.2% month-on-month, seasonally adjusted).

Meanwhile, annual average growth in industrial output fell to 4.1% from 5.8% 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:, Economist

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Slovakia Industry June 2019

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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