Slovakia: Industrial output growth contracts in August
October 16, 2017
Industrial production growth contracted 0.4% year-on-year in August, following July’s robust 9.2% expansion. The decline was mainly due to a contraction in the mining and quarrying sector and a smaller decline in output in the manufacturing sector, which was partially offset by growth in the electricity, gas, steam and air-conditioning sector. The mining and quarry sector has posted eight consecutive contractions since March 2017.
On the other hand, industrial production grew 2.4% in monthly terms after contracting 3.2% in July (previously reported: -3.3% month-on-month).
As a result of August’s contraction, annual average growth in industrial output fell from 6.0% in July to 4.5% in August.
Author: Lindsey Ice, Economist