Slovak industry stagnates in February

Slovak industry stagnates in February
/ bne IntelliNews
By Albin Sybera April 11, 2024

Slovakia’s industrial output stagnated in a year-on-year comparison and increased by 0.4% month-on-month.

It follows January’s 3.6% y/y growth, and the Slovak Statistical Office also noted the data recalculation “due to the transition to the new base period of 2021”.

“Up to two-thirds of sectors of industry, including automobile companies, recorded a y/y lower performance. Furthermore, a significant drop in mining continued, where production dropped by more than 41%, mainly due to the closure of mines”, statisticians highlighted.

Besides mining and quarrying, the y/y lower performance was registered in the manufacture of computer products (-17.6%), other manufacturing and installation of machinery (-16.3%), and manufacture of machinery and equipment, which had a significant impact on the overall figure.

Manufacture of transport equipment also dropped (-2.2%), as did the manufacture of coke and petroleum products (-7.9%) and the manufacture of textiles and leather (-5.7%).

Positive figures were registered in electricity, gas, steam and air-conditioning supply (+23.1%), manufacture of electrical equipment (+18.8%) and manufacture of food (7.2%).