Slovakia: Industrial activity drops again in May
July 10, 2020
Industrial production slumped 33.5% year-on-year in May, following April’s 42.0% nosedive, which had marked the sharpest decline on record.
May's smaller drop was partly driven by a softer fall in manufacturing output, although, it still continued to contract at a sharp rate.
On a monthly basis, industrial production rose 19.6% in seasonally-adjusted terms in May, contrasting April’s 27.2% fall and marking the best result since January 2008. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at minus 10.1% in May, down from April's minus 6.9% reading.