Industrial output in Slovakia increased by 3.1% year-on-year in December 2018, affected by a 4.1% increase in industrial manufacturing, and a 1% decrease in supplies of electricity, gas, steam and air-conditioning, the Slovak Statistics Office reported on February 11.
“After seasonal adjustment, industrial production decreased by 0.9% in December 2018 compared with November 2018,“ said the Statistics Office.
Industrial output for the whole 2018 grew by 4.5% y/y, mostly due to increases in industrial manufacturing, which went up by 6.5%. Production decreased in mining and quarrying by 9.8%, and in supplies of electricity, gas, steam and air-conditioning by 6.5%.
Revenues in industry rose by 4% y/y in December, largely due to increases in mining and quarrying by 23.5%, in manufacturing by 7.8%, in water supplies, sewage water disposal and waste disposal by 3.7%, and in supplies of electricity, gas, steam and cold air by 13%. Total revenues in industry for the whole 2018 increased by 6.1% y/y due to growth in water supplies, sewage water disposal and waste disposal services by 7.8%, in manufacturing by 7.6%, and in mining and quarrying by 6.3%.
According to UniCredit Bank Czech Republic and Slovak industry is already feeling the slow-down in Germany, but the new car producer is keeping things above water. “The weaker numbers from Slovak industry at the end of the year in the context of weaker growth in several European countries, but especially in Germany, have not surprised in principle. Slovakia’s industry, unlike most other European economies, could still rely on its key sector - the automotive industry, which thanks to its new production capacities, safely defended it against red numbers, also in year-on-year comparisons. Other industrial sectors, which were more or less riding on a negative wave, were less successful,” he said, online Pravda.sk reports.
“Total industrial production last year increased by 4.5%, with the biggest contributor being car production (4.9 percentage points), while some sectors of industry slowed down the growth (in particular electricity, gas and steam supplies),” added Slovenska Sportelna analyst Katerina Muchova.