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|
|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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