Export-oriented sectors fared well in June

Export-oriented sectors of Slovakia's industry in particular fared well in June, UniCredit Bank analyst Ľubomír Koršňák stated. According to the Slovak Statistics Office the Industrial Production Index grew by 6.4 percent year-on-year in June. According to Koršňák, relatively robust growth on monthly terms was exhibited by the automotive and engineering sectors, as production in both sectors reached new highs. "After a protracted period of time, we recorded a substantial upward correction in the production of consumer electronics, which saw it go up some 25 percent on the year. It still was not enough for resuming year-on-year growth overall, as the production was 4 percent lower than in June 2014", said Koršňák. Central bank analysts noted, however, that the quarter-on-quarter growth in June failed to keep up with the pace of growth in the previous periods.