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Slovakia Industry August 2020

Slovakia: Industrial output drops at softest pace in seven months in August

Industrial output declined 0.8% compared to the same month of 2019 in August, a softer pace than July’s 3.6% decline and marking the best reading since January.

August’s weaker drop reflected a more moderate contraction in manufacturing output and a pickup in mining and quarrying production. Meanwhile, electricity, gas, and steam supply output eased in August compared to the previous month.

On a seasonally-adjusted monthly basis, industrial output increased 4.5% in August, softer than July’s 6.9% growth. Meanwhile, the trend improved slightly, with the annual average variation of industrial production coming in at minus 10.5% in August, up from July’s minus 11.1%.

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