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Slovakia industrial output rebounds notably in April

Staff Writer |
Industrial production expanded 4.2% year-on-year in April, strongly contrasting March’s sizeable 2.0% contraction.

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The rebound came on the back of an over 5% expansion in manufacturing and modest growth in mining and quarrying, and was weighed down by a drop in electricity, gas, steam and air-conditioning supply.

Strong increases in the manufacture of transport equipment, machinery and equipment and in the manufacture of rubber and plastic products drove the manufacturing sector’s positive performance.

After adjusting for seasonal effects, industrial production increased 0.2% in month-on-month terms, following March’s slightly stronger 0.3% increase.

Meanwhile, annual average growth in industrial output rose from an over one-year low of 1.8% in March to 2.5% in April.

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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