Slovakia: Industrial output growth moderates in May
July 9, 2021
Industrial output grew 36.7% in year-on-year terms in May, which followed April's 69.1% increase. Looking at the details of the release, the print chiefly reflected softer manufacturing output growth compared to the previous month. In addition, mining and quarrying production fell in May. Meanwhile, annual average industrial production growth rose to 10.0% in May (April: +4.2%), signaling an improving trend in the industrial sector.
On a monthly basis, factory output decreased 2.4% in seasonally-adjusted terms in May, which was greater than April’s 0.9% fall and marked the worst result since April 2020..
Author: Hanna Andersson, Economist