Slovak industrial sales increased for the seventh month in a row in March 2014, but at a slower pace than in February, data from the statistics office showed. Sales in the third month of 2014 increased by 2.7% compared to an increase of 4.4% y/y the month before.
The March increase was influenced mainly by a 7.4% rise in the manufacturing sector, a 1.7% growth in the mining sector and a 2.7% hike in water supply sector. Sales in the utilities fell by 18.5%.y/y.
The auto manufacturing sector (which accounts for more than a quarter of total industrial sales) reported a 9.5% annual growth in March sales, speeding up from an 8.8% y/y increase in the previous month. Sales of computers, electronics and optics (another important driver of the country’s export-oriented industrial sector) rose by 2.9% y/y, easing from 23.1% in February.
On a seasonally adjusted basis, the industrial sector turnover in February fell by 2.6% m/m, following a 1.5% drop in the previous month.
In the first three months of the year, industrial sales rose 3.8% y/y.
IntelliNews comment: Slovakia’s industrial sales are expected to continue rising this year helped by stronger demand both from abroad at at home. Slovak industrial sales rose 0.5% y/y in 2013, easing from a 6.2% increase in 2012 mainly due to faltering demand from abroad.
| y/y change | Mar-14 | Feb-14 | Mar-13 | 2013, y/y change |
| INDUSTRIAL SALES | 2.7% | 4.4% | -5.1% | 0.5% |
| Mining | 1.7% | -4.3% | -12.3% | -4.6% |
| Manufacturing | 7.4% | 8.3% | -6.9% | 2.2% |
| --food, beverages and tobacco | -7.3% | -7.8% | -1.0% | -2.4% |
| --textiles, apparel, leather and related products | 4.6% | 7.5% | -13.0% | -1.8% |
| --wood and paper products, printing | -3.4% | -2.0% | -0.9% | 0.6% |
| --coke and refined petroleum products | -9.1% | 7.3% | -9.7% | 4.9% |
| --chemicals and chemical products | 10.4% | 4.1% | -29.0% | -23.8% |
| --pharmaceuticals, medicinal chemical and botanical products | -53.7% | -30.8% | 39.2% | -30.7% |
| --rubber, plastics and other non-metallic mineral products | 17.0% | 17.1% | -2.2% | 0.7% |
| --basic and fabricated metal products, except machinery and equipment | 11.0% | 8.2% | -6.8% | 2.1% |
| --computers, electronic and optical products | 2.9% | 23.1% | -9.7% | -4.0% |
| --electrical equipment | 24.1% | 19.7% | -0.7% | 18.3% |
| --machinery and equipment | 11.2% | 2.7% | 2.0% | 12.3% |
| --transport equipment | 9.5% | 8.8% | -5.3% | 5.9% |
| --other manufacturing, repair and installation of machinery and equipment | 16.9% | 6.9% | -15.5% | -0.6% |
| Electricity, gas, steam and air conditioning supply | -18.5% | -13.5% | 3.9% | -8.5% |
| Water supply | 2.7% | 7.5% | -0.3% | 5.0% |
| Source: Statistical Office of the Slovak Republic |
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