Slovakia: Industrial production sinks to over-two-year low in June
July 10, 2019
Industrial production fell 2.1% year-on-year in June, an over-two-year low, which contrasted May’s 4.7% increase. A breakdown by sub-components revealed that a contraction in the manufacturing sector drove the downturn. Meanwhile, growth in mining and quarrying gathered momentum, while growth in utilities supply slowed.
After adjusting for seasonal effects, industrial production dropped 1.4% month-on-month in June (May: +0.2% month-on-month, seasonally adjusted).
Meanwhile, annual average growth in industrial output fell to 4.1% from 5.8% a month prior.
Author: Nicolás J. Aguilar, Economist