Slovak industry is back in black figures with 3.6% growth y/y in June

Slovak industry is back in black figures with 3.6% growth y/y in June

/ bne IntelliNews

By Albin Sybera August 10, 2023

Slovak industrial production output increased by 3.6% year-on-year, and decreased by 1.2% month-on-month in June, the Statistical Office of the Slovak Republic reported.

It came after two months of decline and was only the second month of growth in 2023. Just over half of the 15 monitored sectors of the country’s industry had a higher y-o-y performance.

“The double-digit growth of the decisive manufacture of transport equipment was also supported for the second month by the energy sector, which overcame the base effect of a significant quarter-on-quarter decline that persisted throughout 2022,” statisticians noted and also highlighted the ongoing decline in the manufacture of rubber products.

The black figures were most contributed to by the performance of the country’s key car production industry, which translated into a 12.2% growth y-o-y in the manufacture of transport equipment.

The manufacture of coke and petroleum products was up by 52.2% y-o-y, the manufacture of electrical equipment grew by 13.9%, and the supply of electricity, gas and steam increased by 7.5%.

The manufacture of rubber and plastic products decreased by 12.1%, and the manufacture of wood and paper products registered a decrease of over 10%.

From January to June, industrial production dropped by 1.5% y-o-y.

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