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Slovakia: Growth in industrial production softens in May

Slovakia industrial
Europe   Growth came on the back of a healthy expansion in manufacturing

Industrial production in Slovakia expanded 2.5% year-on-year in May, down from April’s revised 4.1% increase (previously reported: +4.2% year-on-year).


Growth came on the back of a healthy expansion in manufacturing, which more than offset contractions in mining and quarrying; and in electricity, gas, steam and air-conditioning supply.

Strong increases in the manufacture of transport equipment, and of coke and refined petroleum products drove the manufacturing sector’s positive performance.

After adjusting for seasonal effects, industrial production increased 0.8% in month-on-month terms, following April’s weaker 0.2% increase.

Meanwhile, annual average growth in industrial output remained stable at April’s 2.5% in May.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 4.9% in 2018, which is unchanged from last month’s forecast. For 2019, the panel sees industrial production growth decelerating to 4.4%.

 

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