Slovakia: Industrial production accelerates in November
January 10, 2011
In November, industrial output expanded 17.3% over the same month last year, accelerating over the 13.4% increase recorded in October. The November expansion was driven by manufacturing, which grew 18.4% over the same month last year (October: +13.5% year-on-year) on the back of strong growth in machinery and equipment. Moreover, electricity, gas, steam and air conditioning grew 12.5% (October: +15.3% yoy). Mining and quarrying improved and added 0.2% over the same month last year (October: -3.4% yoy). A month-on-month analysis corroborates the resilient growth implied by the annual figures, as industrial production grew 3.7% over the previous month in seasonally adjusted terms (October: +1.1% mom). Moreover, the overall trend continues to improve, with the annual average variation in industrial production jumping from 17.1% in October to 18.5% in November.