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

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

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