Slovak Industrial Production Posts First Drop Since 2009
Slovak industrial production fell for the first time in more than three years in December as carmakers reduced output.
Output declined 4.4 percent from a year earlier, the first contraction since October 2009, after increasing 5.2 percent in November, the Slovak Statistical Office said in Bratislava, the capital. Production of cars, a key export, dropped 10 percent.
Slovakia’s export-dependent economy has been hurt by waning demand from the 17-nation euro area, which the country joined in 2009. The government last month cut its forecast for economic growth this year to 1.2 percent from previously a estimated 2.1 percent.
The trade surplus narrowed to 130.9 million euros ($175.6 million) in December from 315.7 million euros in the previous month, the statistics office also said today. The full-year surplus rose to a record 3.64 billion euros.
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