GDP in Slovakia
Slovakia - GDP
Growth accelerates in the second quarter
Detailed national accounts data released on 7 September showed that the economy grew 4.2% year-on-year in the second quarter, revised up from the preliminary reading of 4.1%. This marks an acceleration from the first quarter’s 3.6% expansion and the fastest pace of growth since Q4 2015.
Looking at a breakdown of the data, growth in the second quarter was fueled by the external sector. Exports picked up in Q2, rising 8.0% year-on-year following a 2.4% annual expansion in Q1. Imports also climbed in the quarter, expanding 7.8% after a 3.2% rise in Q1. Therefore, the external sector made a positive contribution to growth.
Domestic demand also grew at a solid, albeit slightly slower, rate compared to the first quarter. Fixed investment growth surged to 20.4% in Q2, up from Q1’s 12.5%, thanks to rising inflows of EU funds. On the other hand, growth in private consumption weakened from 3.5% in Q1 to 2.2% in Q2 as inflation climbed from the previous quarter and wage growth slowed. Moreover, government consumption rose at a weaker pace of 2.5% in Q2 compared to 3.1% in Q1.
On a quarter-on-quarter, seasonally-adjusted basis, GDP growth in the second quarter came in at 1.1%, marginally up from the 1.0% expansion in the first quarter.
Met the why particular Consensus Forecast panelists expect GDP growth to reach 3.5% in 2018, which is unchanged from last month’s forecast. For 2019, the panel projects economic growth will moderate to 3.2%, which is up 0.1 percentage points from last month’s estimate.
Slovakia - GDP Data
|Economic Growth (GDP, annual variation in %)||1.5||2.8||3.9||3.3||3.4|
5 years of economic forecasts for more than 30 economic indicators.
Slovakia GDP Chart
Source: Slovakia Statistical Office (SOSR) and Met the why particular calculations.
|Bond Yield||0.73||-4.12 %||Oct 16|
|Exchange Rate||1.16||0.65 %||Oct 16|
|Stock Market||336||0.0 %||Oct 16|
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October 11, 2018
Industrial production expanded 2.1% year-on-year in August, marginally down from July’s 2.2% increase.
September 18, 2018
Consumer prices grew 0.2% month-on-month in August, contrasting July’s 0.1% dip—which had represented the first drop in prices in over a year.
September 12, 2018
Industrial production expanded 2.0% year-on-year in July, down from June’s revised 2.2% increase (previously reported: +2.1% year-on-year).
September 7, 2018
Detailed national accounts data released on 7 September showed that the economy grew 4.2% year-on-year in the second quarter, revised up from the preliminary reading of 4.1%.
August 17, 2018
Consumer prices fell 0.1% month-on-month in July, reversing June’s 0.1% increase and the first drop in prices in over a year.