Slovak industry returned to growth in May, in particular due to the key automotive industry when the release of bottlenecks partially restarted its production, UniCredit Bank Czech Republic and Slovakia analyst Lubomir Korsnak said in a comment on May industrial production on Monday. According to Korsnak, other important export branches of Slovak industry also prospered in May - mechanical engineers, electrical equipment manufacturers, metallurgists and metal processors. On the contrary, the industry figures were once again cut off by the lower performance of the domestic energy industry, but also of the refining industry. The woodworking and paper industry also experienced a slightly weaker May. The analyst pointed out that the mood in domestic industry began to deteriorate again in June. This only suggests that May's partial recovery in the industry might not be long-lived. Several industries may show a gradual reduction in production in the second half of the year. Following three months of year-on-year decreases, industrial production rose by 1.1 percent y-o-y and by 2.1 percent month-on-month after seasonal adjustments in May 2022, the Statistics Office reported on Monday.
Source: TASR
