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Steel and Consumer Electronics Leading Rise in Industrial Production
Tuesday 09 March 2010 Zoom in | Print page
Bratislava, March 9 (TASR) - The month-on-month increase of 4.4 percent in industrial production in January was due to a revival at steel works and another rise in the production of consumer electronics, UniCredit Bank analyst David Derenik told TASR on Tuesday in reaction to newly-released statistics on industrial production in Slovakia.
Industrial production in January rose by 19.3 percent year-on-year, the biggest y-o-y increase since November 2007.
According to Derenik, consumer electronics is a sector that has been growing even during the crisis, and production is now 7 percent higher than before the problems struck.
"It's engineering works that have stepped on the gas the most, they've been reporting a revival in new orders in recent months. This process was significantly slackened or halted during the uncertainty with respect to sales," said the analyst.
This year will be marked by a recovery in several industrial sectors, predicted Derenik. "Carmakers will maintain their position as workhorses in the first half of 2010, along with consumer electronics and gradually also other sectors, such as engineering works and steelworks," he said. He also cautioned that the second half of 2010 could also be influenced by the crisis, however, as global stimuli aimed mainly at bolstering car production will begin to fade, and the car market will show signs of saturation.
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