Slovakia: Industrial activity shrinks in June
Industrial production shrank 5.7% year on year in June (May: +1.1% yoy). Looking at the details of the release, the decline was largely due to contractions in the energy and manufacturing sectors. Notably, however, growth in the machinery and equipment subsectors softened the overall downturn in the key manufacturing sector.
On a monthly basis, industrial production fell 1.8% in seasonally-adjusted terms in June, contrasting May’s 2.1% expansion. Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at an over one-year low of minus 0.5% in June, contrasting May’s plus 1.1% reading.