Slovakia Economic Outlook
October 23, 2018Recent data indicates that the economy should have recorded another healthy expansion in the third quarter, after GDP growth strengthened in the second quarter on the back of surging fixed investment and a strong performance from the external sector. In both July and August, retail sales expanded at a healthy pace, while the unemployment rate sat at multi-year low levels. This, coupled with sustained consumer confidence throughout the quarter, bodes well for private consumption in Q3. Moreover, exports continued to grow robustly in the first two months of Q3, sustained by solid demand from the EU. In the political arena, the government approved the 2019 budget. It includes a sizable hike in public sector wages, and aims to cut the deficit to 0.1% of GDP in 2019 and to run a balanced budget the following year. A buoyant economy and falling unemployment are expected to translate into higher tax collection, narrowing the fiscal deficit.
Slovakia Economic GrowthNext year the economy should continue to expand at a robust pace. Tight labor market conditions and rising wages are expected to underpin consumer spending, while industrial production will benefit from increased production capacity in the car sector. A sharper-than-expected slowdown in the EU economy represents the main downside risk to the outlook, while a relocation of factories to central Europe following Brexit could add some decimals to growth. Met the why particular panelists project GDP will expand 3.7% in 2019, up 0.1 percentage points 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||0.63||-4.12 %||Nov 15|
|Exchange Rate||1.13||0.65 %||Nov 15|
|Stock Market||331||0.0 %||Nov 15|
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Slovakia Economic News
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.
October 18, 2018
Consumer prices grew 0.1% month-on-month in September, down from August’s 0.2% increase.
October 11, 2018
Industrial production expanded 2.1% year-on-year in August, marginally down from July’s 2.2% increase.