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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