Slovakia Industry April 2019

Slovakia

Slovakia: Industrial production slows in April

June 10, 2019

Industrial production grew 6.3% on an annual basis in April, decelerating from March’s 7.8% expansion (previously reported: +7.3% year-on-year), which had marked a two-year high. A breakdown by sub-components revealed that more moderate activity in the manufacturing and utilities sectors drove the slowdown. Meanwhile, although mining and quarrying output contracted for a second consecutive month, it did so at a softer pace.

After adjusting for seasonal effects, industrial production decreased 0.2% month-on-month in April (March: +1.4% month-on-month, seasonally adjusted).

Meanwhile, annual average growth in industrial output climbed to 5.9% in April, up from March’s 5.7% expansion.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 5.5% in 2019, which is unchanged from last month’s forecast. For 2020, the panel sees industrial production growth decelerating to 3.2%.


Author:, Economist

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Slovakia Industry April 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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