Slovakia: Contraction in industrial production eases in September
Industrial production fell 2.5% year-on-year in September, following August’s 8.1% plunge, which had marked the lowest reading since July 2016. A breakdown by sub-components revealed a slump in manufacturing output drove September’s contraction. On the other hand, both mining and quarrying output and utilities supply recorded expansions.
After adjusting for seasonal effects, industrial production rebounded 0.3% month-on-month in September (August: -2.6% month-on-month, seasonally adjusted).
Meanwhile, annual average growth in industrial output dropped from 3.6% in August to 2.9%, marking the softest print since March 2018.