Slovakia: Industrial production growth plunges in June
August 11, 2017
In June, industrial production grew 1.8% year-on-year. The pace of expansion was a substantial drop from the 5.1% rise recorded in May. Behind the result was a slowdown in the manufacturing sector along with lower growth in the supply of electricity, gas, steam and air-conditioning. The growth rates of both sectors plummeted by more than half in June compared to May. Meanwhile, mining and quarrying output contracted once again, but the rate of decline somewhat eased from the previous month.
On a monthly basis, industrial production swung to a 1.1% contraction in seasonally-adjusted terms in June from May’s revised 3.9% expansion (previously reported: +3.8% year-on-year). Annual average growth in industrial production fell to 4.1% in June from 4.5% in May.
Author: Nihad Ahmed, Economist