BRATISLAVA, November 9, (WEBNOVINY) – The growth rate of Slovak industrial production accelerated in September. According to data from the Statistics Office, seasonally adjusted growth of industrial production in September was 7.4 percent year-on-year, while in August growth reached 4.2 percent. In industrial manufacturing alone, growth accelerated from August’s 7.6 percent to 9.5 percent in September. In contrast, production in mining and quarrying in the ninth month was 3.8 percent down, while in energy supply the drop represented 4.6 percent. In a monthly comparison, production in industry as a whole in September increased 3.2 percent compared to August.
Overall industrial output was affected by an increase in production of machinery and equipment not classified elsewhere of 37.5 percent, in production of textiles, clothing, leather and leather products of 29.9 percent, in production of computer, electronic and optical devices of 9.9 percent, in production of transportation means of 4 percent, and in production of metals and metal structures other than machinery and equipment of 5.4 percent. Output decreased in particular in production of coke and refined crude oil products by 4.7 percent, as well as in production in chemicals and chemical products by 3 percent. On average for the nine months of this year, the index of industrial production grew 8.4 percent y/y.
Production in the Slovak industry has so far continued to grow since last year, when it recovered from recession in 2009. While in 2009, industrial production dropped by 13.7 percent due to the slump in foreign demand resulting from the economic crisis, last year it returned to double-digit growth. On average over the full year 2010, growth of industrial production reached 18.9 percent, when all sectors have grown except production of coke and petroleum products.
SITA
