Slovakia industrial production nose-dives in March

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Photo by Natanael Ginting / Shutterstock.com

Slovakia industrial production declined at the fastest pace in nearly 11 years in March, data from the Slovak Statistical Office (SÚSR) shows. 

Photo by Natanael Ginting / Shutterstock.com

Industrial production fell a working day adjusted 19.6% year-on-year in March, following a 1.7% decrease in February. The latest decline in output was the biggest since May 2009.

Manufacturing output declined 21.4% in March. Output in mining and quarrying grew 7.2%, while electricity, gas, steam and air conditioning sector output fell 10.4%. On a monthly basis, industrial production declined 20.2% in March.

In a separate report the Bratislava-based statistics office said that Slovakia’s construction output fell 3.1% annually in March, after surging 7.6% in the previous month.

On a seasonally adjusted monthly basis, construction output shrank 6.5%, SÚSR said on May 11.

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