Slovak industrial sales growth eases to 2.7% y/y in March

By bne IntelliNews May 14, 2014

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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