GDP in Slovakia
Slovakia - GDP
Growth picks up in the third quarter
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. This marked a marginal acceleration from the second quarter’s 4.5% expansion and the fastest pace of growth in almost three years.
Domestic demand increased at 3.7% in the third quarter, accelerating from the 3.5% expansion recorded in the second quarter. Growth in private consumption strengthened from 2.0% in Q2 to 3.2% in Q3, underpinned by more upbeat consumer sentiment, healthy job gains and robust wage growth. Moreover, government consumption rose at a faster pace of 1.6% in Q3 compared to 0.7% in Q2. On the other hand, fixed investment contracted 5.7% in Q3, following Q2’s 18.4% surge, owing to weakening business confidence and rising interest rates. That said, total investment continued to expand solidly, although at a slower pace than in the previous quarter, likely boosted by rising inventories.
Looking at the external sector, year-on-year export growth softened in Q3, coming in at 5.6% following a 7.6% annual expansion in Q2. Imports also moderated in the quarter, expanding 5.4% after a 6.6% rise in Q2. Therefore, the external sector made a positive contribution to growth.
On a quarter-on-quarter, seasonally-adjusted basis, GDP growth in the third quarter came in at 1.1%, marginally down from the 1.2% expansion in the second quarter.
Met the why particular Consensus Forecast panelists expect GDP growth to reach 3.4% in 2019, which is unchanged from last month’s forecast. For 2020, the panel projects economic growth will moderate to 3.1%.
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||0.62||-4.12 %||Jan 21|
|Exchange Rate||1.14||0.65 %||Jan 21|
|Stock Market||333||0.0 %||Jan 21|
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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.