Slovakia: Industrial production accelerates in September
November 9, 2011
In September, industrial output expanded 7.4% over the same month last year, which was above the 4.2% increase observed in August. Manufacture of machinery and equipment rose 37.5% over the same month last year and had the biggest impact on the reading. Manufacture of transport equipment, which is significant due to the automotive industry's high penetration in the Slovak economy, expanded a modest 3.9% year-on-year. A month-on-month comparison confirms the acceleration implied by the annual figures, as industrial production added a seasonally adjusted 3.2% over the previous month (August: +2.0% month-on-month). Annual average growth fell from 10.9% in August to 10.4% in September, continuing the downward trend in place since January 2011.