The global economic slowdown’s latest victim appears to be Slovakian car manufacturing, according to data out today. A decline in the sector dragged the whole country’s industrial output down, despite rises in other areas.
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The automotive sector fell 12.8% in October, the first decline since April 2006. The fall negated rises in other areas such as the production of electronics and optical goods.
According to figures from the Slovak Statistics Office, quoted by Reuters, Slovakian production was flat overall for the month. It was the country’s worst performance since March 2005.
The country’s automotive sector is based around assembly plants owned by Volkswagen, PSA Peugeot Citroen and Kia Motors.
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