Slovakia: Industrial production continues to contract in October
December 10, 2019
Industrial production fell 3.9% year-on-year in October, following September’s 2.5% dip and marking the third consecutive month of contraction. October’s decline reflected a drop in manufacturing output, while both the mining and quarrying, and utilities supply sectors logged expansions.
After adjusting for seasonal effects, industrial production fell 0.7% month-on-month in October (September: +1.3% month-on-month, seasonally adjusted).
Meanwhile, annual average growth in industrial output dropped from 2.9% in September to 2.0% in October, marking the lowest print in over five-and-a-half years.
Author: Hanna Andersson, Economist