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Home » Slovakia Recorded a Record Drop in Industrial Production

Slovakia Recorded a Record Drop in Industrial Production

by junitop
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In Slovakia, industrial production in February 2023 decreased by 4.7% compared to the same period last year. This is evidenced by the data of the statistical office of the republic.

It is noted that the industry reached its lowest February figures in the last four years, and a similar trend in the Slovak economy on an annualized basis continues for the fifth month in a row. However, the industry has softened the pace of its higher backlog, which was evident in December and January.

“Of the 15 observed sectors of the Slovak industry (special industrial groups), the majority had lower figures than in the same month a year ago”,

 – the message says.

At the same time, there was a slight increase in production in the largest sector of the production of vehicles – by 2.8%.

“On a monthly basis (compared to January 2023), seasonally adjusted, industrial production increased by 2.3%,”

 – emphasized in the Slovak department.

Recall that the economy of Slovakia is directly related to the situation around Russia. Despite this, Bratislava supports the anti-Russian sanctions of the West and insists on their strengthening. This has already led to serious problems in the Slovak economy, including high inflation and massive business closures.

Source : EurAsia Daily

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