Stats: Industrial Output Stagnated Y-o-Y in November 2024

Bratislava, January 9 (TASR) - Slovakia's industrial output remained at the same level as the year before in November 2024, the Statistics Office reported on Thursday. After four months of continuous growth, industrial output stagnated year-on-year (y-o-y), with only a 0.1 percent increase. Seasonally adjusted, industrial production dropped by 1.2 percent in monthly terms. Out of 15 monitored sectors, eight performed better y-o-y. The most significant impact on industrial growth was a 24.3-percent increase in the production of means of transport. This key industrial sector posted y-o-y growth for the third consecutive month, with November's increase being the most rapid. In second and third place in terms of impact on industrial output were a y-o-y slowdown in the production of metals (down by almost 22 percent) and a more than 25-percent drop in the production of machinery and equipment. Positive developments were supported by a more than 30-percent increase in other production, but the overall figure was held back by a nearly 26-percent drop in chemicals production. Industrial output in the first eleven months of 2024 continued to decline y-o-y, by 0.7 percent. Nine of the 15 sectors monitored performed worse than in the same period of 2023. The most significant contribution to the overall decline in production came from the manufacturing of metals, which decreased by more than 8 percent. Conversely, the most significant positive impact on industry stemmed from a 5-percent increase in the key sector of production of means of transport. Meanwhile, the production of machinery and equipment saw a notable decline of more than 12 percent. lin/df