Stats: Industrial Output Up 2.5 percent Y-o-Y in September

Bratislava, November 8 (TASR) - Slovakia's industrial output grew by 2.5 percent year-on-year (y-o-y) in September 2024, the Statistics Office reported on Friday. The pace of growth accelerated despite more sectors of industry showing declines than increases. In total, only six of the 15 sectors monitored reported year-on-year increases, but their contribution to overall output growth was significantly higher than industries that recorded falls. Slovak industry recorded an increase for the third month in a row. September's growth was mainly supported by car production and the energy sector. In contrast, the most significant drop was reported in metal production. The most significant impact on industrial growth was a 11.3-percent increase in the production of means of transport. This key industrial sector posted y-o-y growth for only the fourth time this year, with September's increase the second highest in 2024. Conversely, industrial output growth was held back by a 12-percent drop in metal production. The positive development can also be ascribed to significant growth y-o-y in the energy sector, i.e. in supplies of electricity, gas, steam and cold air, with the sector posting growth of 21 percent in September. Food production rose by 11 percent. Seasonally adjusted, industrial production went up by 1.3 percent in monthly terms. Industrial output in the first nine months of the year fell by 1 percent y-o-y. Eight of the 15 sectors monitored posted worse figures than in the same period of 2023. Output between January-September was most significantly influenced by an almost 6-percent drop in the production of metals and by a more than 10-percent decline in the production of machinery and equipment. Meanwhile, food production increased by more than 9 percent and the production of electronic devices grew by almost 8 percent. Car production exceeded last year's figure by 1 percent in the first nine months of the year. tl/df/zel