Slovakia: Industrial output records slowest growth since since February in July
Industrial output rose 7.8% year-on-year in July (June: +13.8% yoy). July’s outturn marked the worst reading since February. July’s notable downturn in growth was driven by easing manufacture, repair and installation of machinery and equipment production, as well as in pharmaceuticals and mining and quarrying.
On a monthly basis, industrial output grew 1.0% in seasonally-adjusted terms in July, which was notably below June’s 3.1% expansion. Meanwhile, the trend improved sizably, with the annual average growth of industrial production coming in at plus 10.1% in July, up from June’s 9.2% reading.