BRATISLAVA, July 10, (WEBNOVINY) — Slovak industry grew at a moderately slower year-on-year pace in May of this year, when it surged by 10.8 percent. Compared with the previous month, it is a slowdown of 0.1 percentage points. The driving force of industrial output in May was solely manufacturing again going up by 13.2 percent. Y/y decline in mining and quarrying even deepened to 18.7 percent while electricity, gas, steam and cooled air supplies went down by 2.5 percent, the Statistics Office reported on Tuesday. Net of seasonal influences industrial output grew 2.2 percent in May from April.
The greatest contribution to growth in industrial output in May came from manufacturing of transport equipment that grew by 55.2 percent. Manufacturing of metals and metal structures except machinery and equipment soared by 6.1 percent, manufacturing, repair and installation of machinery and equipment not classified elsewhere by 20.1 percent, manufacturing of textiles, apparel, leather and leather products by 7.1 percent and in manufacture of electrical equipment by 11.2 percent. Volume production dropped mainly in the manufacturing of coke and refined petroleum products by 38.4 percent and in manufacturing of chemicals and chemical products by 41.7 percent.
The index of industrial output grew 9.7 percent y/y on average for the first five months of this year Production was lower in electricity, gas, steam and cooled air supplies by 2.2 percent and by 5.6 percent in mining and quarrying.
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
