ECONOMIC BRIEFS

Feb. industrial production index 13% below 1998 monthly average

According to data from the Slovak Statistical Office (ŠÚSR), the nation's industrial production index in February was 87.1% of last year's monthly average. The decline was influenced by a 4.9% drop in extraction of raw materials, a 17.9% decrease in industrial output and a 11% growth in the production and distribution of power, gas and water.

Almost all branches of industry failed to reach their average 1998 monthly output levels, with the exception of the pulp and paper sector and the periodicals publishing industry. The most significant drop was recorded in textile and clothing production, production of non-metallic mineral products and production of rubber and plastics products.

February sales by the industrial sector amounted to 48.8 billion Slovak crowns, up 3.5% year-on-year in nominal terms. The growth reflects an increase in revenues from raw materials extraction (25.7%), industrial production (0.2%) and the production and distribution of electricity, gas and water (31.4%). Two months into 1999, sales of the industrial sector were 4% higher than in the same period last year.

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