Slovakia: Industrial output bounces back in May
Industrial output rose 1.1% compared to the same month of the previous year in May, which contrasted April’s 9.6% decrease. Looking at the details of the release, May’s rebound was broad-based. Manufacturing and mining and quarrying production accelerated, while electricity, gas and steam supply activity contracted at a softer rate.
On a seasonally-adjusted monthly basis, factory output rose 2.1% in May (April: -1.1% mom), the best result since November 2021. Meanwhile, the trend pointed down, with the annual average growth of industrial production coming in at an over one-year low of 1.1%, down from April’s 3.3% reading.