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Financial News: Slovakia Industrial Production Falls For Seventh Month

Slovakia Industrial Production Falls For Seventh Month

10/09/2020 - 07:48:00 (RTTNews)

(RTTNews) - Slovakia industrial production declined for the seventh straight month in August, data from the Statistical Office of the Slovak Republic showed on Friday.

Industrial production fell a working day adjusted 0.8 percent year-on-year in August, following a 3.6 percent decrease in July.

Production for manufacturing declined 3.0 percent yearly in August.

Meanwhile, production for electricity, gas, steam and air conditioning sector output, and mining and quarrying rose by 13.1 percent and 12.8 percent, respectively.

On a monthly basis, industrial production grew 4.4 percent in August.

Separate data from the statistical office showed that the trade surplus increased to EUR 574.2 million in August from EUR 166.5 million in the same month last year. In July, trade surplus EUR 449.0 million.

On an unadjusted basis, trade balance registered a surplus of EUR 335.4 million in August versus a deficit of EUR 134.2 million in the same month last year.

Exports increased 5.4 percent yearly in August. This was the highest growth since February last year, when exports rose 7.5 percent.

Imports declined 3.2 percent annually in August.

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