Slovak industry grew by 2.5% y/y in September

Slovak industry grew by 2.5% y/y in September

/ bne IntelliNews

By Albin Sybera November 11, 2024

Slovakia’s industrial output increased by 2.5% year-on-year and by 1.3% month-on-month in September, confirming positive developments after fluctuations in the first half of the year.

“The growth was mainly affected by the revived manufacture of motor vehicles and the higher production related to energy,” Slovak statisticians highlighted, adding that “the most significant slowdown was observed in the production of metals” and that “the pace of growth accelerated despite more sectors reporting decreases than increases”.

The key sector of the manufacture of transport equipment registered a significant growth of 11.3% y/y in the second highest performance of the year, and was followed by 21% growth in the electricity, gas, steam and air-conditioning supply, other manufacturing (+20.7%), and manufacture of food products (11.3%).

Negative influence came mainly from the manufacture of basic metals, which fell by 11.9% y/y, as did the manufacture of coke and petroleum products (-11.8%), manufacture of chemicals (-8.6%) and manufacture of machinery (-6.1%).

From January to September, industrial production declined by 1% y/y. The manufacture of basic metals fell by 6% and the manufacture of machinery and equipment by more than 10%, while the manufacture of transport equipment grew by 1%.

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