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Analysts Expects Record-high Industrial Growth to Ease Later in 2010
Friday 09 April 2010 Zoom in | Print page
Bratislava, April 9 (TASR) - The record-high rise in industrial production that was seen in Slovakia in February – largely the result of the extremely low numbers in 2009 – is most likely to slow down in subsequent months this year, bank analysts concurred for TASR on Friday.
The Slovak Stats Office announced earlier in the day that industrial production rose by 20.6 percent year-on-year, mainly thanks to a 66-percent increase in the automobile production.
"Despite the good year-on-year percentage growth, we remain cautious and expect the growth in industry at 10 percent this year," said Postova Banka analyst Eva Sadovska, adding that no way can we speak about pre-crisis levels yet.
Maria Valachyova, an analyst with Slovenska Sporitelna bank, coincided with Sarazova's forecast and added that she expects an annual increase in March, too.
According to UniCredit bank analyst David Derenik, potent industrial growth can be expected until June. "Positive developments for the three months ahead are also indicated by surveys on economic sentiment in the Slovak industry," he said.
The rise in car production was probably largely thanks to a boosted production in the Trnava-based PSA Peugeot Citroen plant. "In the second quarter of 2010, the situation may reverse, as the plan is planning on a 13-day work stoppage. On the other hand, Volkswagen Slovakia has announced another increase in demand for SUV cars. It's questionable at the moment which influence will prevail," said Valachyova.
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