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Slovak Industry Contracts Third Month
10 Jun
Summary
- Slovak industrial production fell 3.2% year-on-year in April.
- Weaker performance in motor vehicles and basic metals impacted output.
- Coke and petroleum products saw a significant 11.34% decline.
Slovakia's industrial output experienced a significant contraction in April, marking the third consecutive month of decline. Data from the Statistical Office of the Slovak Republic revealed a year-on-year decrease of 3.2% in industrial production for the month.
This downturn was primarily driven by a weaker performance in crucial manufacturing sectors. The production of motor vehicles saw a decline of 5.4%, while the basic metals industry slumped by 8.1%. Additionally, the manufacture of coke and petroleum products plunged by a substantial 11.34%.
On a month-to-month basis, industrial production remained flat in April, indicating a pause in the decline but no immediate recovery. The persistent decrease highlights ongoing challenges within Slovakia's industrial landscape.
