Industrial Production in Slovakia

Slovakia's Industrial Production Index measures the level of output in industry, covering manufacturing, mining and energy supply. Published by the Statistical Office of the Slovak Republic, it is one of the most closely watched cyclical indicators because it anticipates the economic cycle.

It is built by aggregating the sub-indices of the various industrial branches, weighted by their share of value added, on a base year (index 100). The data are adjusted for calendar and seasonal effects and reported as year-on-year and month-on-month changes (%).

It is closely tied to the economic cycle and GDP and is related to business-climate indicators (PMI) that tend to lead it. Slovak industry is heavily concentrated in the automotive sector, making it especially sensitive to external demand and the European supply chain.

It is subject to revision: when a month's figure is released, the previous month is often revised. It is volatile, sensitive to the number of working days and to one-off factors; the weight of the auto sector can amplify swings when a few plants halt or retool.