Slovakia: Industrial output slows in April
June 8, 2012
In April, industrial output expanded 10.9% over the same month last year, which was below the revised 12.2% increase observed in March (previously reported: +12.1% year-on-year). According to the Statistical Office of the Slovak Republic (SOSR), the reading was mostly affected by a 55.6% 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 rose a seasonally adjusted 0.3% over the previous month, after expanding a robust 3.5% in March. Owing to the recent strong prints, the trend pointed upwards, with annual average growth in industrial production increasing from 6.5% in March to 6.7% in April.