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            

Related Articles

Slovakia battling Romania for Chinese electric carmaker Zhi Dou's plant

Slovakia could have another carmaker on its already soil. Chinese Zhi Dou, a producer of electric cars, has narrowed down its choice on where to build a European factory to Slovakia or Romania, the ... more

Slovakia's car industry facing strike at Kia, unrest at Peugeot

Workers at Kia Motors Slovakia have officially been on strike alert since April 10, a day before Skoda Auto in neighbouring Czechia ... more

Finland gives final nod to construction of Nord Stream II

Finland has issued a second and final permit for the construction of the controversial Nord Stream II pipeline that is to pump gas from Russia directly to Germany via a Baltic Sea route, the Regional ... more