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Slovakia: Industrial output falls in March

Staff Writer |
Industrial production in Slovakia contracted 2.3% year-on-year in March, contrasting February’s meager 1.1% expansion.

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The decline was due to a broad-based fall: The manufacturing; electricity, gas, steam and air-conditioning supply; and mining and quarrying components all contracted.

Strong decreases in the manufacture of coke and refined petroleum products, as well as of computer, electronic and optical products drove the manufacturing sector’s negative performance.

After adjusting for seasonal effects, industrial production increased 0.3% in month-on-month terms, contrasting February’s 0.6% drop.

Meanwhile, annual average growth in industrial output dropped from 2.8% in February to 1.8% in March, an over four-year low.

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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