Slovakia: Industrial production slows for a third consecutive month
May 9, 2011
In March, industrial output expanded 6.8% over the same month last year, decelerating over the 10.8% increase observed in February. The expansion was mostly driven by the manufacturing sector, which increased 10.0% year-on-year, bolstered by a rise in the production of transport equipment as well as machinery. On a month-on-month basis, industrial production increased a seasonally adjusted 1.1% over the previous month, contrasting the 1.3% decline registered in February. Simultaneously, the trend continued to deteriorate in March, with annual average growth dropping to 16.7% from 17.9% recorded in February, after industrial production growth reached its peak in December 2010.