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|
|--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%|
|--machinery and equipment||11.2%||2.7%||2.0%||12.3%|
|--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%|
|Source: Statistical Office of the Slovak Republic|
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