Stats: Industrial Output Up 0.9 percent Y-o-Y in August

Bratislava, October 10 (TASR) - Slovakia's industrial output grew by 0.9 percent year-on-year (y-o-y) in August 2024, the Statistics Office reported on Thursday. August was the fourth month this year in which industry increased its output y-o-y. Seasonally adjusted, industrial production went up by 1.5 percent in monthly terms. The most significant impact on industrial output was a 16-percent increase in output in the energy sector, i.e. supplies of electricity, gas, steam and cold air. The energy sector, with a double-digit increase, has been supporting industrial output growth for three months in a row. In second and third place in terms of impact on industrial output were the persisting slowdown in the production of machinery (down by 11.6 percent in August) and an almost 7-percent drop in the production of rubber and plastics. Output in key sectors of Slovakia's industry, such as the production of means of transport and metals went down only slightly from the previous August, and their impact on overall production in August was negligible. Industrial output in the first eight months of the year shrank by 1.4 percent y-o-y. Nine of the 11 monitored sectors posted worse figures than in the same period of 2023. The most significant drop was reported for the production of machinery (11 percent) and the production of metals (5 percent). Industry was spared an even bigger fall by a more than 8-percent cumulative increase in the production of electric appliances and almost 9-percent growth in food production. The key category of production of means of transport posted the same output as in the first eight months of 2023. ko/df