Slovakia's industrial production plunged 8.1 percent from a year earlier in August 2019, following a 2.8 percent growth in the previous month and missing market expectations of a 2.7 percent increase. That was the steepest month of contraction in output since July 2016, led by declines in transport equipment (-14.1 percent vs -5.8 percent), rubber and plastic products and other non-metallic mineral products (-25.6 percent vs 10.7 percent), basic metals and fabricated metal products (-18.2 percent vs -14.5 percent), computer, electrical and optical products (-7.2 percent vs -1.4 percent) and machinery and equipment (-2.5 percent vs 19.3 percent). Industrial Production in Slovakia averaged 5.36 percent from 2001 until 2019, reaching an all time high of 22.10 percent in August of 2006 and a record low of -27.30 percent in January of 2009.
Industrial Production in Slovakia is expected to be 1.70 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 1.70 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.