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Slovakia Industry March 2021

Slovakia: Industrial output grows at record pace in March

Industrial output grew 24.5% compared to the same month of the previous year in March (February: +1.0% yoy), which marked the strongest rise on record; however, the result was partly driven by a low base effect. Looking at the details of the release, March’s pick up was broad-based, with output expanding in the manufacturing, mining and quarrying and electricity, gas and steam supply sub-sectors. Meanwhile, the trend improved notably, with the annual average variation of industrial production coming in at a one-year high of minus 5.0% in March, up from February’s minus 8.7%.

On a monthly basis, industrial production grew 0.5% in seasonally-adjusted terms in March, rebounding from February’s 0.1% fall.

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