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Slovakia Industry March 2022

Slovakia: Industrial output drops at sharpest rate since June 2020 in March

Industrial output plunged 7.3% in year on year terms in March, which was a deterioration from February’s 0.2% decrease. The outturn marked the worst reading since June 2020. March’s notable downturn came on the back of contractions in manufacturing, and mining and quarrying output.

On a monthly basis, industrial output dove 5.3% in seasonally-adjusted terms in March, which was notably greater than February’s 2.2% fall and marked the worst result since April 2020. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at 8.0% in March, down from February’s 10.9%.

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