Slovakia: Decline in industrial activity softens in August
Industrial output dropped 2.0% year on year in August (July: -6.4% yoy). The smaller drop was largely due to a notable rebound in manufacturing production, particularly in the all-important transport equipment sector. In contrast, electricity, gas and steam production fell again markedly.
On a seasonally adjusted monthly basis, factory output fell 0.9% in August (July: +1.2% mom). Meanwhile, the trend pointed down, with the annual average variation of industrial production coming in at an over one-year low of minus 1.7% in August, down from July’s minus 1.5%.