Slovakia: Industrial output edges up in December
February 8, 2012
In December, industrial output expanded a 0.9% over the same month the year before, which was above the 0.4% increase observed in November. According to the Statistical Office of the Slovak Republic (SOSR), the reading was mostly affected by a 10.4% increase in the manufacture of transport equipment, which is significant due to the automotive industry's high penetration in the Slovak economy. On a monthly basis, industrial production declined a seasonally adjusted 0.2% over the previous month. The print marked an improvement compared to the 2.4% contraction tallied in November but was nonetheless the second consecutive monthly drop. For the full year 2011, annual average growth in industrial output was 7.0%, which more than halved the 18.9% growth recorded in 2010.
Author: Armando Ciccarelli, Head of Data Solutions