Slovakia: Industrial activity records largest decline in six months in July
Industrial output collapsed 5.3% in year-on-year terms in July, which contrasted June’s 3.6% increase. July’s outturn marked the worst reading since January. The figure was largely driven by a deterioration in manufacturing production.
On a seasonally adjusted monthly basis, industrial production fell at a quicker rate of 2.6% in July (June: -1.3% mom), the worst result since March 2022. Meanwhile, the trend improved modestly, with the annual average variation of industrial production coming in at minus 3.2% in July, up from June’s minus 3.3% reading.