Slovakia Economic Outlook
January 29, 2019On the heels of a robust third quarter, momentum appears to have partly carried over into the fourth quarter, powered by strong domestic activity. Retail sales surged in the October-November period, buttressed by softer price pressures and the unemployment rate hitting a new historical low. Meanwhile, fixed investment likely softened at year-end, with major projects within the all-important car industry wrapping up. On the supply front, industrial production lost steam in November, after seven months of impressive expansion. This was a result of slower demand from Germany, a key partner in the European automobile supply chain. Exports consequently decelerated somewhat in Q4, whereas a rise in imports is seen weighing on external gains. In the political arena, a new employment law came into effect on 1 January, including a rise in the minimum wage which should support household spending ahead.
Slovakia Economic GrowthThis year, economic growth should outpace most EU area states, buoyed by sturdy private consumption and increased car production. Households are expected to continue benefiting from subdued inflationary pressures and a tight labor market. Meanwhile, completed manufacturing projects should stoke industrial production, boosting export growth in turn, although a shortage of skilled workers will restrain output. A further deceleration among European economies remains a key risk to the outlook. Met the why particular panelists project GDP will expand 3.8% in 2019, unchanged from last month’s forecast, and 3.2% in 2020.
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|Bond Yield||0.51||-4.12 %||Feb 14|
|Exchange Rate||1.13||0.65 %||Feb 14|
|Stock Market||336||0.0 %||Feb 14|
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Slovakia Economic News
January 15, 2019
Consumer prices dropped 0.1% month-on-month in December, matching November’s reading.
January 11, 2019
Industrial production rose 3.3% on an annual basis in November, decelerating from October’s logged 6.2% increase.
December 14, 2018
Consumer prices dropped 0.1% month-on-month in November, contrasting October’s 0.1% increase.
December 11, 2018
Industrial production expanded 1.2% year-on-year in October, up from September’s mediocre 0.4% increase.
December 11, 2018
Detailed national accounts data released on 7 December showed that the economy grew 4.6% year-on-year in the third quarter, sustained by stronger consumer spending, confirming the preliminary estimate.