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Growth of industry sales slows to 4.5 percent

In August, the growth of industrial sales in Slovakia slowed to 4.5 percent in fixed prices, reaching Sk157.9 billion.

Growth was largely driven by a 4.8-percent increase of sales in industrial manufacturing, a 2.7-percent increase in mining and extraction of minerals, and a 2.3-percent rise in sales from production and distribution of electricity, natural gas and water.

Sales in the first eight months of 2007 exceeded the January-August sales for 2006 by 16.7 percent. Sales in industrial manufacturing went up by 18.3 percent and sales in production and distribution of electricity, natural gas and water by 2.4 percent. Sales in mining dropped 3.6 percent, the Slovak Statistics Office reported.

In August, sales in the construction industry rose by 1.3 percent year-on-year in fixed prices to Sk22.7 billion. Sales in hotels and restaurants continued to decline.

Increases were particularly high for sales in recreational, cultural and sports activities (35.1 percent), IT and related services (9.4 percent), other trade services (3.6 percent) and activities in the real estate sector (two percent), which contributed to an 8.5-percent year-on-year growth in real estate, rental, trade activities and other services, to Sk19.9 billion. Over the first eight months of 2007, sales increased 9.6 percent year-on-year.

-SITA

Compiled by Zuzana Vilikovská from press reports
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