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Slovakia industrial production picks up in October

Staff Writer |
Industrial production in Slovakia expanded 1.2% year-on-year in October, up from September’s mediocre 0.4% increase.

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

Robust increases in the manufacture of transport equipment, and of machinery and equipment, drove the manufacturing sector’s positive performance.

After adjusting for seasonal effects, industrial production rose 0.9% over the previous month in October, contrasting September’s 0.2% month-on-month decrease.

Meanwhile, annual average growth in industrial output edged down from September’s 2.2% to 1.8% in October, the lowest reading in almost six years.

FocusEconomics Consensus Forecast panelists expect industrial production to increase 4.4% in 2019, which is unchanged from last month’s forecast. For 2020, the panel sees industrial production growth decelerating to 4.1%.

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