BRATISLAVA, Jan 10 (Reuters) - Slovak industrial output rose
by a faster-than-expected by 17.3 percent year-on-year in
November, the Slovak Statistics Office said on Monday, putting
production on an upward path for the 13th month in a row.
Annual growth in October was 13.4 percent, following a 13.2
percent increase in September.
Manufacturing production, which has the biggest weighting in
the index, rose by 18.4 percent, showing its strongest jump
since July, after a 13.5 percent October increase.
Output rose by 3.7 percent month-on-month on a seasonally
adjusted basis.
In a separate data release, the Statistics Office said
November's foreign trade balance showed a bigger-than-forecasted
67.0 million euro surplus, following a revised 97.4 million euro
surplus in the previous month.
Exports jumped by 20.6 percent in November, while imports
rose by 22.6 percent.
The small euro zone economy was badly hit by the global
downturn in 2009 as European demand for its key exports, such as
cars and electronics, dried up.
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KEY POINTS:
INDUSTRIAL OUTPUT NOV 10 NOV 10 FCAST
pct change yr/yr +17.3 +13.0
(for the full Nov table please see ..... []
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FOREIGN TRADE NOV 10 NOV 10 FCAST
(mln euro)
Balance +67.0 +35.1
(for the full Nov table please see ..... []
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ANALYSTS COMMENTS:
MARIA VALACHYOVA, SENIOR ANALYST, SLOVENSKA SPORITELNA
"Industrial output was above market expectations. It is a
strong rise. Foreign demand, orders from Germany, were the key
drivers. The growth itself was distributed among several
sectors."
"As for the foreign trade balance, it came in line with our
expectations."
EDURAD HAGARA, SENIOR ANALYST, ING BANK
"Industrial output was a positive surprise, which confirms
the recovery of the foreign trade. It was, again, driven by
Germany's demand and I expect to see growth in the months to
come."
"Foreign trade surplus was also a surprise, as in imports
are traditionally higher then exports in November due to the
Christmas pre-stocking."
INDUSTRIAL OUTPUT:
- Car production rises 30.3 percent from a year ago after a 29.2
percent rise in October.
- Production of other machinery and equipment rises by 37.9
percent, following a 27.8 percent increase in October.
- Mining rises by 0.2 percent, after a 3.4 percent drop in
October.
- Production and distribution of electricity, gas and water
grows 12.5 percent, compared with a 15.3 percent rise in
October.
FOREIGN TRADE:
- The cumulative January-November foreign trade balance showed a
479.4 million euro surplus, compared with 1.001 billion euros in
the same period last year.
- Full-2009 foreign trade balance showed surplus of 946.1
million euro, after a 757.8 million euro deficit in 2008.
LINKS:
- For further details on November industrial output and other
past data, Reuters 3000 Xtra users can click on the Slovak
Statistics Office's website:
- http://wwww.statistics.sk/webdata/english/index2_a.htm
- For further details on October foreign trade, Reuters 3000
Xtra users can click on the Slovak Statistics Office's website:
- http://portal.statistics.sk/showdoc.do?docid=359
- For LIVE Slovak economic data releases, click on......<ECONSK>
- Schedule of upcoming indicator releases............<SK/ECON09>
- Summary of short-term economic data forecasts......<SK/ECON04>
- Slovak benchmark state bond prices .................<0#SKBMK=>
