Slovakia: Industrial production slows
October 7, 2011
In August, industrial output expanded 4.2% over the same month last year, which was below the 5.1% increase observed in July. Manufacture of transport equipment, which is significant due to the automotive industry's high penetration in the Slovak economy, expanded 21.9% year-on-year. A month-on-month comparison, however, does not corroborate the slowdown implied by the annual figures, as industrial production added a seasonally adjusted 2.0% over the previous month (July: -3.4% month-on-month). Annual average growth fell from 11.9% in July to 10.9% in August, continuing the downward trend that began in January 2011.