Slovakia and Italy Report Industrial Production Declines in May

Industrial output in Slovakia and Italy both trended downward in May, according to data from their respective national statistical agencies. In Slovakia, the Statistical Office of the Slovak Republic reported a 2.0 percent year-on-year decrease in industrial production, marking the fourth consecutive month of decline. This downturn was driven by drops in computer, electronic, and optical products by 10.3 percent, electricity and gas supply by 3.7 percent, and transport equipment manufacture by 2.4 percent, though a 17.8 percent surge in chemical manufacturing slowed the decline compared to April.

Italy's industrial production fell by 0.3 percent in May, as reported by the national statistical office ISTAT. This marked the country's first contraction in four months, reversing a 0.4 percent increase in April and exceeding economist expectations of a 0.2 percent decline. The contraction was fueled by monthly decreases in intermediate goods, consumer goods, and capital goods, while energy production grew by 4.6 percent. Despite the monthly dip, Italy's calendar-adjusted industrial output grew 1.1 percent year-on-year, continuing a rising trend seen since February.