Slovakia Economic Outlook
October 25, 2016Recent indicators for Q3 suggest that growth in Slovakia remains strong. In August, the unemployment rate fell to the lowest level since January 2009 and industrial production grew at the fastest rate since March 2008, partially reflecting a base effect due to a change in the holiday period of the all-important car manufacturing sector. Meanwhile, total exports rose a strong 18.4% year-on-year in August. In other news, the cabinet approved the government’s budget for 2017 on 5 October. It attributed the planned budget deficit of only 1.3% of GDP—the smallest ever—to Slovakia’s strong economy and the introduction of new taxes, including taxes on insurance companies and banks, and it expects to run a surplus by 2019. The budget will be submitted next month to Parliament for approval.
Slovakia Economy Data
5 years of Slovakia economic forecasts for more than 30 economic indicators.
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|Bond Yield||0.11||0.0 %||Oct 25|
|Exchange Rate||1.09||-0.23 %||Oct 25|
|Stock Market||313||-0.32 %||Oct 25|
Slovakia Economic Growth
October 25, 2016Going forward, new investment in car manufacturing, infrastructure and real state should continue to support the Slovak economy. However, a “hard” Brexit could reduce demand from Europe, posing downside risks to economic growth. FocusEconomics Consensus Forecasts panelists expect GDP to expand 3.3% in 2016, which is unchanged from last month’s estimate. The panel sees growth at 3.0% in 2017.
Slovakia Economic News
October 17, 2016
In September, consumer prices edged up 0.1% over the previous month, which contrasted the 0.1% drop registered in August.
October 11, 2016
In August, industrial production improved notably as it grew 17.5% from the same month last year, which was the highest rise since March 2008.
September 14, 2016
In August, consumer prices fell 0.1% over the previous month, which followed the 0.4% drop registered in July.
September 12, 2016
Industrial production dropped 14.3% annually in July, which contrasted the revised 2.3% expansion in June (previously reported: +2.2% year-on-year).
August 18, 2016
In July, consumer prices plunged 0.4% over the previous month, which contrasted the 0.1% rise tallied in June.