Slovakia’s industrial production increased at a faster pace in March, reaching the highest since December 2013, on stronger growth in manufacturing and mining and quarrying, preliminary figures from the Statistical Office of the Slovak Republic showed Tuesday.
Industrial production surged 10.4 percent year-over-year in March, much faster than February’s 3.2 percent increase. It was the highest rate of growth since December 2013, when it climbed 13.3 percent.
Output in manufacturing jumped 10.9 percent annually in March and mining and quarrying production grew by 8.6 percent. Utilities output rose by 6.4 percent.
The main double-digit growth contribution came from manufacture of food, beverages and tobacco products, electrical equipment, base metals and fabricated metal products, and other manufacture, repair and installation of machinery and equipment.
Output in non-durable consumer goods sector jumped 24.6 percent and durable consumer goods production grew by 11.2 percent. Intermediate goods production grew 10.4 percent, investment goods output increased by 8.9 percent and production related to energy rose by 7 percent.
On a monthly basis, the seasonally adjusted industrial production rose by 2 percent in March.
In the first quarter, total industrial output increased 5.3 percent compared with the corresponding quarter of last year.
In a separate release, the office reported that construction output increased rose 8.9 percent year-on-year in March, compared to a 3.6 percent rise in the preceding month. Output realized by domestic and non-domestic construction companies grew by 8.9 percent and 9.2 percent, respectively.
Month-on-month, construction output after seasonally adjusted rose by 1.7 percent compared to the previous month.
The material has been provided by InstaForex Company – www.instaforex.com