Slovak industry returns to growth with a 5.4% y/y rise in July

Slovak industry returns to growth with a 5.4% y/y rise in July

/ bne IntelliNews

By Albin Sybera September 11, 2024

Slovakia’s industrial output increased by 5.4% year-on-year, returning to growth with this year’s second highest performance.

It follows a decrease of 2.4% y/y in June when the transport equipment manufacturing, which includes the country’s key car-making segment, was in negative figures.

Month-on-month, industrial production decreased by 2.4%.

“A higher volume of production than a year ago was reported by two-thirds of the monitored industrial sector,” Slovak statisticians highlighted, adding that “July’s balance was not affected by factory holidays in large enterprises”. The dates in the manufacture of motor vehicles “were almost identical as a year ago”, the report noted.

The overall output was positively influenced mainly by a significant 18.9% y/y increase in the electricity, gas and steam segment, followed by a 7.7% increase in the manufacture of transport equipment and a 30.1% increase in other manufacturing.

Negative influence came from the manufacture of coke and petroleum products (-27.2% y/y) and the manufacture of machinery (-7.6%).

From January to July, industrial output fell by 1.7% y/y. with 9 out of the 15 monitored segments registering a lower performance than in 2023.

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