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Slovakia Industrial production November 2023

Slovakia: Industrial activity dips in November

Industrial output dropped 1.8% in year-on-year terms in November, which contrasted October’s 4.4% increase. November’s figure was largely due to a deterioration in manufacturing output—which declined at the sharpest pace in four months—and weaker readings in energy, and mining and quarrying production.

On a monthly basis, factory output declined 4.0% in seasonally adjusted terms in November, contrasting October’s 0.4% expansion and marking the worst result since March 2022. That said, the trend improved significantly, with the annual average variation of industrial production coming in at an over one-year high of minus 1.5%, up from October’s minus 2.3% reading.

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