BRATISLAVA, September 8, (WEBNOVINY) — The growth rate of Slovakia’s industrial output in July remained at June’s five percent. The dynamics of industrial production growth thus remains the slowest since late 2009. As for its structure, industrial manufacturing starts lagging behind. Its growth rate decelerated from 8.7 percent in June to 5.4 percent. The five-percent growth pace was preserved thanks to a bounce-back of energy production from the June fall of over fourteen percentage points to 3.6-percent in July. Mining and extraction of mineral raw materials grew 2.8 percent. Net of seasonal influences, industrial output in July decreased 3.4 percent from June, the Statistics Office reported Thursday.
The Statistics Office explains the y/y increase by higher sales in production of machinery and equipment not classified elsewhere (33.1 percent), production of metals and metal structures (20.4 percent), production of transportation means (4.2 percent), production of coke and refined crude oil products (13 percent) and in the supplies of electricity, gas, steam and cooled air (3.6 percent). The volume of production of computers, electronic and optical products decreased by 45.4 percent, while production of chemicals and chemical products fell 3.7 percent.
On average for the past seven months, the production output index rose 9.1 percent y/y, with a 11.3 percent increase in industrial manufacturing. Output in mining and extraction of mineral raw materials was 0.7 percent lower, and supplies of electricity, gas, steam and cooled air fell 0.9 percent. Production of means of transport was 24 percent higher y/y after the first seven months of this year. Production of machinery not classified otherwise swelled 26.6 percent, production of coke and refined oil products 19.4 percent, production of metals and metal structures 5.8 percent, and production of rubber, plastics and other non-metal mineral products grew 9.4 percent. Output declined in production of computers, electronic and optical devices by 10.1 percent.
Output in Slovakia’s industry continues last year’s trend of increases when production in Slovakia rebound after the steep downturn in 2009. While in 2009, industrial production dwindled 13.7 percent y/y under the influence of declining foreign demand due to the economic crisis, last year it already grew at a double-digit rate. Industrial output grew 18.9 percent on average over 2010 when all sectors posted growth except for production of coke and crude-oil products.
SITA
