In September, industrial output expanded 13.0% over the same month last year. The print was below the strong 17.0% rise observed in August but broadly in line with market expectations of a 13.3% increase. According to the Statistical Office of the Slovak Republic (SOSR), industrial output moderated due to a weaker growth in manufacturing. On the other hand, growth in the electricity, gas, steam and air conditioning category accelerated, while the mining and quarrying sector also improved. Meanwhile, manufacture of transport equipment, which is significant due to the automotive industry's high penetration in the Slovak economy, expanded 65.5% in September (August: +77.2% year-on-year). On a monthly basis, industrial production declined 0.2% in seasonally adjusted terms, which contrasted the 0.4% increase tallied in August. Despite the annual deceleration, the trend continues to point upwards, with annual average growth in industrial production rising from 10.0% in August to 10.4% in September
Industrial output decelerates in September
November 9, 2012
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Slovakia Industry Chart
Note: Year-on-year changes and annual average variation of industrial production index in %.
Source: Statistical Office of the Slovak Republic (SOSR) and FocusEconomics calculations.
Slovakia Economic News
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