Slovak industrial orders come close to stalling in August

By bne IntelliNews October 14, 2015

New orders in Slovak industry inched up 0.2% to nearly €3.2bn in August, slowing from the 19% growth in July, seasonally adjusted data from the statistics office showed on October 14. On a monthly basis, industrial orders dropped 11.5%.

The data suggests that industrial production may slow in the near term, as it usually follows the development of the new orders. Data released on October 9 revealed a surprise slump in output in August.

New orders in the country's vital auto sector, which accounts for almost half of the total, slowed to growth of just 0.1% y/y in August from 41.7% in July. Slovakia is home to car plants run by Germany’s Volkswagen, France’s PSA Peugeot-Citroen and South Korea’s Kia Motors.

The decline in the new orders of computers, electronics and optics - the second most important sector for Slovakia’s export-oriented economy – slowed to 10.9% in August from 15.4% in July. New orders in the sector have been on a downward trend since March, excluding June when they increased 11%. Slovakia hosts plants run by South Korea's Samsung and Taiwan's Foxconn.

In the first eight months of the year, new orders in industry increased 5.9% y/y to €30.2bn.

  August-15, EUR mn Aug-15, y/y change Jul-15, y/y change Aug-15, m/m change Jul-15, m/m change 2014, y/y change
Industry, total 3,178.0 0.2% 19.0% -11.5% 5.0% 3.0%
Manufacture of textiles 21.2 14.3% 11.3% -1.1% 3.2% 2.7%
Manufacture of wearing apparel 16.3 -11.2% 0.4% -8.4% -4.1% 1.4%
Manufacture of paper and paper products 93.4 19.7% 23.2% -1.5% -0.3% -5.2%
Manufacture of chemicals and chemical products 126.7 3.2% -1.3% 1.1% -1.3% -5.9%
Manufacture of pharmaceutical products and  preparations 13.4 18.9% 6.0% -1.6% 13.2% -17.9%
Manufacture of basic metals 291.5 1.7% 5.3% -3.0% -3.8% 0.9%
Manufacture of fabricated metal products, except machinery and equipment 238.6 4.3% 5.0% -0.4% 1.4% 6.9%
Manufacture of computer, electronic and optical products 390.0 -10.9% -15.4% -1.9% -7.4% 6.8%
Manufacture of electrical equipment 236.2 3.1% 9.2% -9.5% 0.9% 11.9%
Manufacture of machinery and equipment 294.5 3.3% 2.3% -0.4% 2.6% 10.6%
Manufacture of motor vehicles, trailers and semi-trailers 1,434.0 0.1% 41.7% -19.4% 12.0% 0.9%
Manufacture of other transport equipment 22.2 9.9% -38.5% 45.0% -41.6% 3.7%
Source: Statistical Office of the Slovak Republic            

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