In the second quarter, GDP expanded 2.8% over the same period last year, which was below the 3.0% rise tallied in the first quarter. That said, the print overshot the 2.7% rise initially reported in the flash estimate released by the Statistical Office of the Slovak Republic (SOSR) on 14 August. The slight slowdown seen in Q2 was mainly caused by deteriorating domestic demand, whereas the external sector improved. Private consumption fell 0.3% in the second quarter, which follows the 0.1% drop seen in the previous period. Government consumption contracted 2.1% in the three months to June, contrasting the 0.4% increase tallied in Q1. Finally, fixed investment declined 1.1% (Q1: -3.9% year-on-year). Exports of goods and services expanded 8.9% in the second quarter, up from the 6.0% increase registered in the first quarter, while imports rose 3.2% (Q1: +2.1% yoy). As a result, the external sector's net contribution to overall economic growth improved from 3.9 percentage points in the first quarter to 5.5 percentage points in the second. A quarter-on-quarter comparison corroborates the slight deceleration suggested by annual data as GDP rose a seasonally adjusted 0.7% over the previous quarter, down from the 0.8% increase recorded in Q1. The Central Bank expects GDP to grow 2.5% this year. In 2013, monetary authorities see GDP rising 3.1%.
Economic activity continues to slow in the second quarter
September 6, 2012
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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.