BRATISLAVA, August 9, (WEBNOVINY) – Slovakia’s industry keeps solid dynamics. According to the Statistics Office data industrial output in June maintained its double-digit growth pace and surged 11.3 percent y/y net of the influence of the number of working days. In May, industrial output surged 11.1 percent. Driving force of industrial output in June was solely manufacturing again going up by 14.1 percent. Mining and quarrying dropped 20.7 percent while electricity, gas, steam and cooled air supplies went down by 4.2 percent, the Statistics Office reported on Thursday. Net of seasonal influences industrial output slowed when it sank 1.4 percent in June from May.
The greatest contribution to growth in industrial output in June came from carmakers when manufacturing of transport equipment soared by 50.9 percent in annualized terms. Manufacturing of textiles, apparel, leather and leather products followed reporting a growth by 12 percent. Manufacture of PCs, electronic and optical produces posted growth of 4.9 percent. Production of electrical equipment went up 6.3 percent and manufacturing of wood and paper products and print reported 2.4 percent growth. The volume of production dwindled mainly in manufacturing of metals and metal structures except machinery and equipment by 4.2 percent and in manufacturing of chemicals and chemical products by 15 percent.
Output in Slovak industry continues to grow despite the easing of dynamics at the end of last year. While in 2009, industrial production dropped by 13.7 percent due to a slump in external demand resulting from the economic crisis, in 2010 it again grew at double-digit pace. Last year it grew by 7.2 percent, mainly thanks to industrial manufacturing, as mining and energy production fell year-on-year.
SITA
