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Slovakia’s industrial output hits double-digit growth in March

Growth in Slovakia’s industrial sector continued to gain momentum and in March it returned to double-digit figures on an annual basis as it grew by 12.1 percent compared to March 2011. The growth rate was 8.4 percent in February, the SITA newswire reported.

Growth in Slovakia’s industrial sector continued to gain momentum and in March it returned to double-digit figures on an annual basis as it grew by 12.1 percent compared to March 2011. The growth rate was 8.4 percent in February, the SITA newswire reported.

Slovakia’s Statistics Office said the high growth rate can be attributed mainly to the manufacturing sector which had growth of 14.7 percent in March while mining and quarrying recorded only modest growth of 1.7 percent and supply of electricity, gas, steam and cooled air decreased again, this time by 2.4 percent.

Manufacturing of transport equipment contributed the most to the growth of industrial production in March, spiking by 42 percent.

Over the first quarter of 2012, Slovakia’s industrial production index grew by 7.7 percent year-on-year, with manufacturing increasing by 9.7 percent and mining and quarrying increasing by 0.7 percent. Production of electricity, gas, steam and cooled air was 2.8 percent lower in the first quarter compared with 2011.

Source: SITA

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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