Slovakias new industrial orders drop 4.9% y/y in December 2012.

By bne IntelliNews February 18, 2013
New orders in the Slovak industry dropped 4.9% y/y to EUR 2.8bn in December 2012, deteriorating from a revised 9.2% annual growth in November, and posted their worst annual decline since October 2009, data from the statistics office showed. New orders in the vehicles manufacturing industry, which accounts for almost half of total orders, fell 7.9% y/y in December, following a 22.3% rise in November. Slovakia hosts three big auto making plants, run by Germanys Volkswagen, Frances PSA Peugeot-Citroen and South Koreas Kia Motors. The manufacture of computers, electronics and optics, the second most important sector for Slovakias export-oriented economy, recorded a 18.5% annual drop in new orders in December, following a 19.1% decline in the previous month. On a monthly basis, seasonally-adjusted industrial orders fell 6.2% in December, following a 2.3% decline in November. For full-year 2012, new industrial orders advanced by 13.7% y/y to EUR 41.4bn, compared to an 8.3% growth in 2011. IntelliNews comment: The industrial orders data is another important economic indicator showing that the Slovak export-driven economy is losing steam. The countrys annual economic growth slowed down to 0.7% in Q4 2012 from 2.1% in Q3 2012, driven down mainly by weakening foreign demand. As the new orders data provides an insight into the future, we can say that the economy will remain sluggish in the near term.
Dec-12, EUR mn Dec-12, y/y change Nov-12, y/y change Dec-12 m/m change Nov-12 m/m change 2012, y/y change
Industry, total 2,796.0 -4.9% 9.2% -6.2% -2.3% 13.7%
Manufacture of textiles 14.0 -14.1% -0.9% -4.2% -4.1% 6.4%
Manufacture of wearing apparel 18.1 11.4% -0.5% 8.2% -4.4% -3.1%
Manufacture of paper and paper products 88.5 10.1% 14.5% 1.5% -1.4% 11.6%
Manufacture of chemicals and chemical products 183.1 -0.5% 2.9% 0.5% 1.5% -5.0%
Manufacture of pharmaceutical products and preparations 30.7 -5.9% 34.7% -7.3% 1.3% -3.5%
Manufacture of basic metals 319.3 22.8% 12.5% 3.2% 0.6% 9.2%
Manufacture of fabricated metal products, except machinery and equipment 163.5 2.9% 11.0% -6.3% 0.5% 9.6%
Manufacture of computer, electronic and optical products 345.4 -18.5% -19.1% -1.5% -12.5% 0.4%
Manufacture of electrical equipment 172.4 -3.8% 12.7% -5.5% 1.5% 3.3%
Manufacture of machinery and equipment 227.6 0.2% -4.2% 2.5% 0.4% -0.5%
Manufacture of motor vehicles, trailers and semi-trailers 1,209.8 -7.9% 22.3% -11.7% -0.5% 27.1%
Manufacture of other transport equipment 23.4 26.2% -23.6% 25.5% -28.3% -0.2%

Slovakias new industrial orders drop 4.9% y/y in December 2012.

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