Slovak Oct ind output rises on cars, electronics

...industries, data showed on Friday, 
and analyst expected strong growth to continue. 
    The Slovak Statistics Office said industrial output rose by a 
real 17.3 percent year-on-year in October, the highest increase 
in three months, after revised growth of 15.3 percent in 
September. Analysts had forecast a 13.3 percent annual rise. 
    Manufacturing production, which has the strongest weighting 
in the output index, rose by 20.4 percent on the year in 
October, after a 17.4 percent increase in the previous month. 
    "Growth has concentrated mainly in the car, electronics and 
optical equipment production," said Maria Valachyova, the senior 
analyst at Slovenska Sporitelna. 
    "It seems electronics and optical sectors continue to 
increase their contribution in the (industrial production) 
growth," she added. 
    Production in the automotive industry, which is centred 
around the assembly plants of Volkswagen , PSA Peugeot 
Citroen  and Kia Motors , rose by 59.8 
percent from a year ago, after 53.5 percent growth in September. 
    Kia Motors said on Friday it had produced 140,000 cars to 
date in its new Slovak plant, adding this year's production in 
Slovakia should reach 150,000 units. 
    Output in the electronics sector, which includes factories 
of Samsung Electronics  and Sony , rose by 
41.5 percent in October, its fastest growth this year, after a 
36.0 percent in September. 
    Analysts said the strong industrial output reading would 
have a positive impact on October foreign trade data, due to be 
released on Dec.12. 
    Analysts in a Reuters poll had predicted a trade deficit of 
0.9 billion crowns, but some market watchers now expected a more 
favourable balance. 
    "We don't expect a foreign trade deficit in October anymore, 
we rather think there will be a zero," said Eduard Hagara, an 
ING Bank analyst in Bratislava. 
    (For table with industrial output details, please click on 
[ID:nL07902404]) 
     
  Keywords: SLOVAKIA ECONOMY/OUTPUT 
    

[BRATISLAVA/Reuters/Finance.cz]