Carmakers propelled Slovakia’s industry in June

Industrial production continues to recover.

The automotive industry is the driving force of industrial production in Slovakia.The automotive industry is the driving force of industrial production in Slovakia. (Source: Sme)

After a significant improvement of Slovakia’s exports in June, industrial production figures were also positive. Both continued to recover, driven especially by the automotive sector.

“We have significantly underestimated the initial phase of the recovery of the industry after the partial easing of anti-pandemic measures across Europe in our estimates,” Ľubomír Koršňák, an analyst of UniCredit Bank Czech Republic and Slovakia, wrote in his memo.

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