Slovak industrial production growth slowed to 0.4 percent from a year earlier in September 2018 from 2.1 percent in the previous month and well below market expectations of 2.5 percent. Manufacturing production rose at a softer 1.7 percent (vs 3.2 percent in August) mainly due to a slowdown in transport equipment output (10.1 percent vs 15.5 percent) and declines in production of basic metals and fabricated metal products (-7.2 percent vs 9.6 percent); rubber and plastics products, and other non-metallic mineral products (-0.9 percent vs unchanged); and coke, and refined petroleum products (-21 percent vs -35.8 percent). In addition, electricity, gas, steam and air conditioning supply continued to contract (-7.5 percent vs -3.2 percent), as well as mining and quarrying (-10.6 percent vs -9.8 percent). On a seasonally adjusted monthly basis, industrial output decreased 0.2 percent. Industrial Production in Slovakia averaged 5.30 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.