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|
An explosion at the site of Austrian OMV’s Baumgarten natural gas hub has interrupted gas transit to Italy, Slovenia and Hungary, the Austrian government’s electricity and gas markets regulator ... more
CEFC, the acquisitive Chinese energy group, and Penta Investments, the closely-held Slovak financial group, are bidding together for Time Warner’s stake in Central European Media Enterprises (CME), ... more
A group of Slovak and Czech oligarchs are reportedly interested in buying regional media and entertainment company Central European Media Enterprises, the Slovak Spectator reported on November 8. ... more