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Slovakia Industry August 2019

Slovakia: Industrial production sinks to over three-year low in August

Industrial production fell 8.1% year-on-year in August, contrasting July’s 2.8% increase and marking the lowest reading since July 2016. A breakdown by sub-components revealed a slump in manufacturing output drove August’s deterioration. On the other hand, mining and quarrying output expanded at a softer clip, while utilities supply grew slightly faster than in July.

After adjusting for seasonal effects, industrial production slumped 2.6% month-on-month in August (July: +0.6% month-on-month, seasonally adjusted).

Meanwhile, annual average growth in industrial output dropped to 3.6% from 4.9% a month prior.

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