Slovakia: Industrial production contracts for fourth month straight in November
January 10, 2020
Industrial production fell 4.4% in November, following October’s revised 4.0% decline (previously reported: -3.9% year-on-year), and marking the fourth straight month of downturns in industrial activity. November’s decrease reflected a slide in manufacturing output as well as in the utilities supply sector. Meanwhile, the mining and quarrying sector posted an expansion.
After adjusting for seasonal effects, industrial production fell 0.3% month-on-month in November (October: -0.5% month-on-month, seasonally adjusted).
Meanwhile, annual average growth in industrial output dropped from 2.0% in October to 1.4% in November, marking the lowest reading in over five-and-a-half years.
Author: Hanna Andersson, Economist