Slovakias Feb industrial output grows at slowest pace in 14 months.

By bne IntelliNews April 11, 2011
Industrial output growth slowed down to 10.8% y/y in February 2011 from 17.8% in the previous month, registering its slowest pace of increase since November 2009, the statistics office said. The manufacturing sectors expanded by 10.6% y/y after most of the sectors decelerated significantly against their growth in January. Transport equipment slowed down to 16.5% y/y from 51.3% y/y in January and electrical equipment increased by 4.8% y/y. Basic metal manufacturing went up by 7.6% y/y, while the pharmaceuticals sector rose by 12.1% y/y. Among the manufacturing sectors that performed well were the machinery and equipment that increased by 28.3% y/y and the coke and petroleum products, up by 21.5% y/y. The sectors that registered a decrease of production were food production and apparel, decreasing by 2.5% y/y and 2.8% y/y, respectively. Output in the mining industry collapsed by 14.6% y/y while electricity and gas supply sector were by 15.4% y/y higher. In terms of main industrial groups, the development of industrial production in February reflected the growth of investment goods production by 19.1% y/y and of energy by 15.1% y/y. IntelliNews comment: The sharp drop of the growth rates of most industrial sectors could be attributed to the phasing out of the base effect from the revival in 2010 after the 2009 crisis. However, we expect that the industry will continue to perform strong throughout the year, driven by transport equipment and machinery and equipment manufacturing.
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