Slovakia's industry sales growth speeds up to 15.5% y/y in May 2011.

By bne IntelliNews July 12, 2011
Slovakia's industry sales rose by 15.5% y/y to EUR 6.5bn in May 2011, accelerating from a 10.7% annual growth in the previous month, the statistics office reported. The faster growth was attributed to an improvement in most of the major manufacturing sectors. Manufacturing sales, accounting for 84% of all sales, jumped by 16.6% y/y mainly on the back of a 41.1% y/y rise in the sales of transport equipment, which have a 27.7% share in the manufacturing sales. The other main sectors in terms of turnover were basic metals that surged by 7% y/y after collapsing by 5.62% y/y in April and rubber and plastic products that increased by 23% y/y. On the other hand, sales of computer products declined by 21.9% y/y after climbing by 7.4% y/y in the previous month. Food production sales accelerated further to 18.1% y/y after a 15.4% y/y rise in April. Coke manufacturing sales grew 47.6% y/y, their fastest increase since the beginning of the year. Sales in the electricity supply sector advanced 9.3% y/y, but the water supply sector faced a 5.4% y/y drop. Mining was up by 15.1% y/y.

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