Slovakia: Industrial production contracts in April
June 9, 2017
In April, industrial production contracted 3.2% from the same month of the previous year, which sharply contrasted the 13.0% expansion recorded in March and marked the worst result since July 2016. According to the Statistical Institute, April’s drop was the result of declines in mining and quarrying and in manufacturing. An increase in electricity, gas, steam and air-conditioning was not enough to prevent April’s decrease.
On a monthly basis, industrial production contracted 10.9% in seasonally-adjusted terms in April. The print contrasted March’s 10.4% expansion. As a result, annual average growth in industrial production dropped from 5.7% in March to 4.7% in April.
Author: Luis Lopez Vivas, Economist