Slovakia: Industrial output growth accelerates in October
December 8, 2011
In October, industrial output expanded 7.8% over the same month last year, which was above the 7.4% increase observed in September. According to the Statistical Office of the Slovak Republic (SOSR) the reading was mostly affected by a 13.2% increase in the manufacture of transport equipment, which is significant due to the automotive industry's high penetration in the Slovak economy. In addition, manufacture of machinery and equipment rose 23.9% over the same month last year. On a monthly basis, industrial production added a seasonally adjusted 0.9% over the previous month, below the 3.2% increase tallied in September. Annual average growth fell from 10.4% in September to 9.9% in October, continuing the downward trend in place since January 2011.