Slovakia: Industrial output picks up in February
April 11, 2012
In February, industrial output expanded 8.4% over the same month last year, which was well above the revised 2.1% increase observed in January (previously reported: +7.0% year-on-year). According to the Statistical Office of the Slovak Republic (SOSR), the reading was mostly affected by a 31.7% increase in transport equipment, which is significant due to the automotive industry's high penetration in the Slovak economy. On a monthly basis, industrial production expanded a seasonally adjusted 2.8% over the previous month. The print was above the 1.7% increase recorded in January and marks a third consecutive month of expanding industrial output. Despite the February increase, however, annual average industrial production declined further from 5.6% in January to 5.4%.
Author: Armando Ciccarelli, Head of Data Solutions