BUSINESS IN SHORT

Industrial production up in October

INDUSTRIAL production in Slovakia rose by 6.8 percent year-on-year in October, as a result of the 9-percent rise in industrial manufacturing, according to the Statistics Office data. Production dropped in electricity, gas, steam and air-conditioning supply by 7.2 percent y/y, and in mining and quarrying by 2.6 percent y/y. After seasonal adjustments, industrial production rose by 0.4 percent compared to September.

INDUSTRIAL production in Slovakia rose by 6.8 percent year-on-year in October, as a result of the 9-percent rise in industrial manufacturing, according to the Statistics Office data. Production dropped in electricity, gas, steam and air-conditioning supply by 7.2 percent y/y, and in mining and quarrying by 2.6 percent y/y. After seasonal adjustments, industrial production rose by 0.4 percent compared to September.

Total industrial production rose annually mostly thanks to increases in the manufacturing of electric equipment (by 63.6 percent), vehicles (7.7 percent), and metals and metal constructions, except for machines and equipment (18.2 percent). Moreover, the manufacturing of rubber, plastic and other non-metallic mineral products rose by 11.7 percent y/y, and the manufacturing, repair and installation of machinery and equipment rose by 16.9 percent y/y, the Statistics Office informed.

On the other hand, the volume of production dropped in annual terms in the manufacturing of coke and refined petroleum products by 23.7 percent, basic pharmaceutical products and preparations by 53.3 percent, and chemicals and chemical products by 13.6 percent.

Over the first 10 months of 2013 the index of industrial production grew by 3.8 percent y/y, while industrial manufacturing grew by 4.8 percent.

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