Slovakia: Decline in industrial activity softens in September
Industrial output dropped 1.9% year on year in September (August: -2.0% yoy). September’s smaller drop was partly driven by faster growth in manufacturing output. In addition, mining and quarrying output rebounded. That said, energy output fell at a steeper rate.
On a seasonally adjusted monthly basis, industrial output fell at a more moderate pace of 0.8% in September (August: -0.9% mom). Meanwhile, the trend improved slightly, with the annual average variation of industrial production coming in at minus 1.5% in September, up from August’s minus 1.7% reading.