Slovakia: Industrial production rises for first time in six months in January
March 10, 2020
Industrial production rose 0.5% in January, contrasting December’s revised 6.9% contraction in December (previously reported: -7.1% year-on-year) and marking the first expansion since July last year. January’s upturn was largely driven by a rise in the utilities supply sector as well as in the mining and quarrying sector. Meanwhile, the manufacturing sector logged a contraction.
After adjusting for seasonal effects, industrial production increased 4.6% in January (December: -1.6% month-on-month, seasonally adjusted).
Meanwhile, annual average growth in industrial was flat in January, down from December’s 0.6% rise.
Author: Hanna Andersson, Economist