Slovenia: Industrial output remains robust in August
October 10, 2012
In August, industrial output expanded 17.0% over the same month last year. The print was slightly below the robust 18.5% rise observed in July, which had represented the strongest expansion seen since December 2010. According to the Statistical Office of the Slovak Republic (SOSR), the monthly expansion continued to be spurred by resilient manufacturing output, albeit it decelerated somewhat. In addition, the mining and quarrying sector as well as the electricity, gas, steam and air conditioning category gained some ground in August. Meanwhile, manufacture of transport equipment, which is significant due to the automotive industry's high penetration in the Slovak economy, soared 77.2% in August (July: +83.9% year-on-year). On a monthly basis, industrial production expanded 0.4% in seasonally adjusted terms, which was below the 1.5% rise recorded in July. As a result of the strong annual readings seen in recent months, the trend continues to point upwards, with annual average growth in industrial production rising from 8.9% in July to 10.0% in August.