Slovak industrial production rose 1.2 percent year-on-year in October 2018, following a 0.4 percent gain in the previous month and below market consensus of a 1.6 percent increase. Manufacturing output went up at a faster pace (3.6 percent from 1.7 percent in September), mainly driven by basic metal and fabricated metal products (2.3 percent from -7.2 percent); rubber and plastic products (2.5 percent from -0.9 percent) and non-metallic mineral products (2.5 percent from -0.9 percent). On the other hand, electricity, gas, steam and air conditioning supply continued to fall (-12.6 percent from -7.5 percent), as well as mining and quarrying (-17.2 percent from -10.6 percent). On a seasonally adjusted monthly basis, industrial output went up 0.9 percent, after decreasing 0.2 percent in September. Industrial Production in Slovakia averaged 5.28 percent from 2001 until 2018, reaching an all time high of 22.10 percent in August of 2006 and a record low of -26.40 percent in January of 2009.
Industrial Production in Slovakia is expected to be 2.40 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Industrial Production in Slovakia to stand at 1.80 in 12 months time. In the long-term, the Slovakia Industrial Production is projected to trend around 1.60 percent in 2020, according to our econometric models.