Slovakia: Industrial production declines for first time in nine months in August
October 9, 2015
Industrial production declined 0.5% annually in August, contrasting the 11.9% growth tallied in July. August’s print represented the first annual drop since December 2014. According to the statistical institute, August’s result reflected a drop in mining and quarrying as well as in electricity, gas, steam and air conditioning supply. Growth in manufacturing output slowed sharply in the same month.
On a monthly basis, industrial production in August fell 1.6% in seasonally-adjusted terms. The print contrasted the 1.2% increase tallied in July and marked a 32-month low. As a result of August’s deterioration, annual average growth in industrial production fell from 3.7% in July to 3.5%.