THE GROWTH of industrial production in Slovakia reached 17 percent year-on-year in August, compared to 18.4 percent in July, the Slovak Statistics Office announced on October 9.
“The deceleration of growth was especially caused by the transfer of the company-wide holidays in car-manufacturing companies from July to August,” said Slovenská Sporiteľňa analyst Martin Baláž, as quoted by the TASR newswire. Due to the holiday, the year-on-year growth of vehicle production decelerated from 83 percent in July to 77 percent in August.
Baláž added that the car industry is still driving Slovakia's economic growth.
15. Oct 2012 at 0:00 | Compiled by Spectator staff