Slovak industrial firms saw February output flat

The majority of Slovakia's industrial companies saw production lower or flat in February compared with the previous month, a survey conducted by the Slovak Statistical Bureau (SUSR) showed on March 1.

The poll, conducted among 350 companies accounting for 75% of industrial output, showed 34% reporting a decline in January, while 38% registered output unchanged. The number of firms posting a rise fell to 28%, compared with 38% in a January poll.

Official February industrial output figures are expected from SUSR by April 7. January figures are due on March 8.

In December, industrial production decreased by a real 1.7%, year-on-year, compared with a rise of 0.2% in November.

The companies participating in the survey cited difficulties in obtaining financing, low foreign and domestic demand and competition from imports as the main barriers to further output expansion. Around 45% of the companies polled said they expected an expansion in the period between March and May, while only four percent said their production would fall in the next three months. Significant output increases were expected in the production of transport equipment, the metal industry and chemicals. A decline was expected mainly in the textile industry and car production.

In the next three months, 25% of companies expect domestic demand to rise while around five percent said they expected a decline. A rise in exports was expected by 34% of the companies and three percent expected a decrease.

Get daily Slovak news directly to your inbox

Top stories

Health Ministry gearing up for COVID vaccines

Mass campaign planned to get people to take jab.

Illustrative stock photo

He was almost murdered. Instead, he is to become general prosecutor

It was not clear whether the election would take place on December 3 until the very last moment.

Maroš Žilinka

Žilinka elected the next general prosecutor

He received 132 votes out of the 147 present MPs.

Maroš Žilinka

Why Slovakia should focus on advanced services

Domestically owned advanced exportable and quasi exportable services could significantly help the growth of the Slovak economy.