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Industrial production index up in October

THE INDUSTRIAL production index (IPI) rose by 2.7 percent year-on-year in October. Its development was affected mostly by the growth in manufacturing by 3.2 percent. It, however, dropped in electricity, gas, steam and air-conditioning supply by 0.7 percent, and in mining and quarrying by 0.3 percent, the Statistics Office (ŠÚ) informed on December 10.

THE INDUSTRIAL production index (IPI) rose by 2.7 percent year-on-year in October. Its development was affected mostly by the growth in manufacturing by 3.2 percent. It, however, dropped in electricity, gas, steam and air-conditioning supply by 0.7 percent, and in mining and quarrying by 0.3 percent, the Statistics Office (ŠÚ) informed on December 10.

The increase of the total industrial production was affected by the growth in the manufacture of basic metals and fabricated metal products except machinery and equipment by 13.5 percent y/y; manufacture of electrical equipment by 27.2 percent y/y; other manufacture, repair and installation of machinery and equipment by 19.6 percent y/y; manufacture of coal and refined petroleum products by 16.9 percent y/y; manufacture of machinery and equipment by 4.3 percent y/y; and the manufacture of food, beverages and tobacco products by 1.7 percent y/y. The volume of production dropped in the manufacture of transport equipment by 2.7 percent y/y and in manufacture of computer, electronic and optical products by 7.5 percent y/y.

In terms of the main industrial groupings, the increase was recorded in the production of intermediate goods by 9 percent y/y and production related to energy by 0.8 percent y/y. Production of non-durable consumer goods was lower by 1.5 percent y/y, production of investment goods by 0.6 percent y/y and production of durable consumer goods by 0.5 percent y/y.

After seasonal adjustment, industrial production in October grew by 1 percent compared to the previous month.

On average, over the first 10 months of 2014, IPI grew by 4.4 percent y/y, of which in manufacturing by 6.2 percent, and mining and quarrying by 3.4 percent. Production was lower in electricity, gas, steam and air-conditioning supply by 8.3 percent.

Source: Statistics Office website

Compiled by Radka Minarechová from press reports

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