Slovak industry maintains growth of 0.9% y/y in August

Slovak industry maintains growth of 0.9% y/y in August

/ bne IntelliNews

By bne IntelliNews October 10, 2024

Slovakia’s industrial output increased by 0.9% year on year and by 1.5% month on month carried by strong performance in the energy sector. It is the fourth month of y/y growth in the country’s industry.

“The energy sector remained the driving force of the Slovak industry for the third month,” the country’s statisticians summed up, adding that “other smaller industrial sectors also contributed to the production growth in August.”

Statisticians also pointed out that “the development remained fluctuating and several industrial sectors continued to be in a y/y lower condition – the most significant slowdown was observed in engineering production and in the manufacture of rubber and plastic.”

Supply of electricity, gas, steam and air conditioning went up by more than 16% y/y, while the manufacture of machinery fell by 11.6%, as did the manufacture of rubber and plastic by 6.9%. The manufacture of electrical equipment also fell by 7.7%, and the manufacture of basic metals by 1.1%.

Mining and quarrying grew by 19.8% y/y, other manufacture and repair of machines by 17.9%, manufacture of wood products by 12.9%, manufacture of food products by 8.4%, and manufacture of coke and petroleum products by 4.7%.

From January to August, industrial output decreased by 1.4% y/y.

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