Slovakia Economic Outlook
November 20, 2018The economy posted another rapid expansion in the third quarter, and once again strongly outperformed the Eurozone average. Investment in the automobile sector and robust inflows of EU funds likely buttressed fixed investment in Q3, while a tight labor market and solid wage gains are expected to have fueled consumer spending. Heading into the fourth quarter, British carmaker Jaguar Land Rover opened a new car plant at the end of October. The new factory has a production capacity of 150,000 vehicles per year and is poised to fuel exports in the quarters ahead. On a less positive note, business confidence hit a nine-month low in October, probably affected by a weaker economic environment in the country’s main trading partners, including Germany. In other news, in late October the Central Bank decided to keep the capital buffer for banks steady at 1.50%—first introduced in 2016 in an attempt to prevent overheating and credit bubbles.
Slovakia Economic GrowthThe economy is projected to maintain a healthy pace of growth next year. Although fixed investment growth is set to cool due to the completion of industrial facilities in 2018, consumer spending will remain buoyant, underpinned by a further tightening in labor market conditions, rising wages and inflows of immigrant workers. Robust foreign demand should support the automotive sector, although a marked cooling in the EU economy could shave some decimals off growth. Met the why particular panelists project GDP will expand 3.7% in 2019, unchanged from last month’s forecast, and 3.1% in 2020.
Slovakia Economy Data
5 years of Slovakia economic forecasts for more than 30 economic indicators.
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|Bond Yield||0.68||-4.12 %||Dec 11|
|Exchange Rate||1.13||0.65 %||Dec 11|
|Stock Market||335||0.0 %||Dec 11|
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Slovakia Economic News
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.
November 16, 2018
Consumer prices grew 0.1% month-on-month in October, matching September’s uptick.
November 14, 2018
The Slovak economy remained strong in the third quarter.
November 9, 2018
Industrial production expanded a mediocre 0.4% year-on-year in September, well down from August’s 2.1% increase.