Turnover in industry returned to decline, growth in other sectors slowed down significantly

May´s turnover rose in 3 out of 5 monthly monitored sectors of the economy. The stability of turnover growth was maintained in information and communication, as well as in selected market services. After the growth in April, turnover in industry have started to decline again. It decreased most significantly in construction, in which the trend of negative development for the last nine months persisted.

Turnover in industrial enterprises¹⁾²⁾ - the largest sector of the economy, decreased by 1.7% year-on-year (in constant prices) in May 2024, so thus it dropped again after a month of almost a double-digit growth. Among the 16 monitored sectors¹⁾, lower turnover values were recorded in 7 of them.

May´s turnover in selected market services²⁾ increased by 3.8% year-on-year, thereby maintaining the growth trend since the beginning of 2024. In transportation and storage enterprises, turnover in May was almost the same as a year ago, with only a slight increase by 0.1%.

Turnover²⁾ of construction enterprises in May 2024 decreased by 9% year-on-year, it was the second most significant decrease since September last year.

Turnover in information and communication activities²⁾ increased by 5.6% year-on-year, thereby confirming the position of the most stable sector of the Slovak economy monitored on a monthly basis. 

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Development in May 2024 compared to April 2024

Turnover in a month-on-month comparison (after seasonal adjustments) dropped in most sectors - in construction by 1.8%, similarly in transportation and storage by 1.6%, in industry by 0.8%. Turnover in selected market services rose by 1.9% and in enterprises operating in information and communication activities by 0.1%.

Development in the first five months of 2024

In total, for the first five months of 2024, turnover increased year-on-year in information and communication activities by 6.2%, in selected market services by 6%, and in transportation and storage by 2.3%. On the contrary, cumulative turnover dropped by 6.8% in construction and by 2.6% in industry.