Slovakia: November turnover in industry increased
In construction, the year-on-year turnover lag moderated. In information and communication, turnover decreased in double digits, a drop was the largest in the last four years. Year-on-year, lower turnover of up to 5 % was recorded in transportation and storage, as well as in selected market services.
In November, after a long-term decline, industry again recorded a year-on-year turnover growth. It was influenced by higher turnover mainly in the manufacture of transport equipment by 10,5 %, but also in manufacture of metals by 5,7 %, which increased year-on-year for the first time since March 2019.
Turnover in construction continued to decline by more than 10% year-on-year, but a slump in November was the lowest in the last eight months.
As for the other activities, turnover in the information and communication sector deteriorated significantly, as turnover in computer programming and information services dropped the most since 2016. A growth rate of turnover in gambling and betting activities slowed down, and the real estate activities were also successful.
A largest turnover drop in travel agencies and tour operator activities persisted even in November, turnover reach less than a third of the volume from November 2019.
Turnover developed favourably in most sectors at the month-on-month level; compared to October 2020, it increased by 6,9 % in construction, by 3,3 % in industry and by 0,5 % in selected market services. A decrease was in information and communication by 4,6 % and in transportation and storage by 0,5 %.
For the first time since May 2019, turnover in industry increased by 3,7 % year-on-year in November. A year-on-year growth was achieved by a total of five of the 16 monitored components of industry – industries or special groupings of sectors.
The most significant increase was recorded in manufacture of transport equipment by 10,5 %, turnover in this sector did not fall below last year's level for the fifth month in a row.
For the first time since March 2019, turnover in manufacture of metals also increased by 5,7 %, turnover in manufacture of electrical equipment also increased significantly by 7,7 %, in manufacture of rubber and plastic products by 3,6 % and in manufacture of chemicals by 6,8 %, year-on-year. Turnover decreased mainly in other manufacture by 12 %, manufacture of computer products by 6,9 %, manufacture of textiles and leather by 12,3 %, manufacture of coke and petroleum products by 5,3 % and in manufacture of wood products by 2,2 %.
A drop in construction turnover continued in November 2020, but its pace slowed down, with a year-on-year decline of 11,7 % being the slowest in eight months.
Turnover in transportation and storage decreased by 3,4 % at current prices in November. The total decrease was mostly due to a lower year-on-year turnover in warehousing and support activities for transport by 8,7 %, a year-on-year decrease was also in air transport and in land transport and transport via pipelines. However, turnover in postal and courier service activities developed favourably, the November's growth of 8,8 % in 2020 was one of the highest one.
A decline in turnover in information and communication deepened significantly in November 2020, reaching a double-digit value for the first time in four years. A year-on-year decrease of 13,8 % was the largest since November 2016. Turnover dropped in all activities, most significantly in computer programming by 14,7 % and in information service activities by 30,8 %, in both cases these were the largest decreases since 2016.
In selected market services, turnover decreased by 4,3 % year-on-year in November. Since April 2020, a slump in turnover in travel agencies and tour operator activities was the slightest one in November, although its turnover did not reach even a third of the volume from November 2019.
Turnover of legal and accounting activities also decreased significantly, a decrease of 15,5 % was, on the contrary, the largest from the beginning of 2020. A growth rate of turnover in gambling and betting activities slowed to 4,4 %, while an increase in the previous two months exceeded 25 %, and real estate activities were also successful.
Development in eleven months of 2020 compared to the same period in 2019
Since the beginning of the year, compared to the same period last year, turnover in industry decreased by 10,3 %, of which in the manufacture of transport equipment by 13,8 %.
Turnover in construction decreased by 12,4 % year-on-year in eleven months.
Turnover in transportation and storage decreased by 9 % year-on-year, the total decrease was mostly due to a drop in warehousing and support activities for transportation. A year-on-year increase in turnover was reached in postal and courier service activities and in water transport.
Since the beginning of 2020 to the end of November 2020, turnover in information and communication decreased by 1,6 %. A decline was in all activities except computer programming, which were the only one to maintain a year-on-year growth.
In eleven months of 2020, turnover in selected market services dropped by 5,6 % year-on-year, a decrease was recorded in most activities, the largest was in travel agencies and tour operator activities. ■