Slovakia: Growth in industrial production slows in May
July 11, 2016
Industrial production rose 5.9% annually in May, below the 7.7% increase tallied April. According to the Statistical Institute, May’s result reflected a softer pace of expansion in manufacturing output and a deeper contraction in the electricity, gas, steam and air conditioning supply category. However, the mining and quarrying sector experienced a smaller drop to that of April.
On a monthly basis, industrial production fell 1.0% in seasonally-adjusted terms in May. The print contrasted the 3.4% increase tallied in April. Despite the weaker readings observed in the last few months, annual average growth in industrial production rose from 4.4% in April to 5.0% in May.
Author: Christopher Mc Innes, Economist