ECONOMIC BRIEFS

Industrial output down 5.4% year-on-year in August

In August Slovakia's industrial output took an annualised (year-on-year) drop of 5.4%, resuming its year-long downward trend after a 0.4% increase in July.

The development in August was the result of an 8% decrease in industrial production, partly compensated by a 10.1% increase in raw materials extraction and a 4.5% growth in the production and distribution of power, water, and gas. Eight months into 1999, industrial output is down 6.6% compared with the same period last year, according to data provided by the Slovak Statistics Bureau.

August's industrial production index was 87.7% of the monthly average in 1998. It was hit by a 13% drop in industrial output; a 12% decrease in the production and distribution of electricity, gas, and water; and a 0.3% increase in the mining of raw materials.

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