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Industrial production up, construction down
10 Jun 2014 Flash News
THE INDUSTRIAL production index (IPP) rose in April compared to the previous year, mostly thanks to an increase in industrial manufacturing. On the other hand, construction production dropped compared to April 2013 for the second time this year, the Statistics Office (ŠÚ) informed on June 10.
The IPP went up by 5 percent year-on-year in April. It was affected the most by the increase in industrial production by 6.8 percent. On the other hand, production dropped in electricity, gas, steam and air-conditioning supplies by 6.4 percent, and in mining and quarrying by 7.1 percent.
The increase in total industrial production was impacted by the increase in the manufacturing of the following items in annual terms: transport equipment by 6.1 percent; basic metal and fabricated metal products, except machinery and equipment, by 12.1 percent; other manufacturing, repair and installation of machinery and equipment by 24 percent; rubber and plastic products and other non-metallic mineral products by 11.1 percent; and machinery and equipment by 9.5 percent. On the other hand, the volume of production dropped mainly in manufacturing of coke and refined petroleum products by 24.1 percent y/y, and in textiles, apparel, leather and related products by 10.8 percent y/y, according to the ŠÚ.
In terms of the main industrial groupings, production of durable consumer goods rose by 11.5 percent y/y, intermediate goods by 9.2 percent y/y and investment goods by 7.1 percent y/y. Production related to energy was lower by 9.7 percent y/y and the production of non-durable consumer goods by 1.1 percent y/y.
After seasonality adjustment, industrial production grew by 0.6 percent month-on-month in April.
During the first four months, the IPI grew on average by 7 percent y/y, of which in manufacturing was 8.9 percent. Production was lower in electricity, gas, steam and air-conditioning supplies by 3.8 percent, and in mining and quarrying by 2.3 percent.
Construction output dropped by 6 percent y/y to €326.5 million in April. After seasonal adjustment it was lower by 1.9 percent than in March 2014.
In annual terms, the output of domestic construction companies fell by 2.5 percent to €307.6 million, with its share on the total construction output increasing by 3.4 percentage points to 94.2 percent. The output was mostly affected by a decline of new construction work, including modernisations and reconstructions, by 3.6 percent. The volume of repairs and maintenance work grew by 2.7 percent.
New construction, including modernisations and reconstructions, represented 70.5 percent of the structure of the domestic output, which is 1 percentage point less than in April 2013. The share of repairs and maintenance works increased to 28.6 percent. Regarding the output specification, the volume of civil engineering works rose by 2.4 percent, while construction of buildings dropped by 3.9 percent. Construction of buildings represented 75.9 percent of the domestic output and civil engineering works constituted 24.1 percent, the ŠÚ informed.
Non-domestic construction output carried out by construction companies fell by 40.9 percent y/y, with its share accounting for 5.8 percent of the total output.
During the first four months of 2014, construction output stood at €1.059 billion, down by 2.1 percent y/y. Domestic output decreased by 1.4 percent to €996.4 million. The volume of works in new construction, modernisations and reconstructions dropped by 2.3 percent to €703 million. Repairs and maintenance works grew by 1.8 percent and amounted to €282.8 million. Non-domestic output went down by 13.1 percent. In the structure of domestic output, the share of new construction, modernisations and reconstructions fell by 0.7 percentage points to 70.6 percent, while the share of repairs and maintenance works rose by 0.9 percentage points to 28.4 percent, according to the ŠÚ.
Source: Statistics Office website
Compiled by Radka Minarechová from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
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