Slovakia GDP


Economic growth accelerates in Q1 2015

In the first quarter, GDP grew 3.1% over the same period of the previous year, according to preliminary data released by the Statistical Office of the Slovak Republic (SOSR) on 13 May. The print came in above the 2.4% increase tallied in Q4 2014 and marked the highest reading in over three years. In addition, it largely overshot the 2.5% the market had expected.

On a sequential basis, the economy grew a seasonally-adjusted 0.8% in Q1 2015, which was above the 0.6% rise tallied in Q4 2014 and marked an over-three-year high. More detailed data will be released on 5 June.

The National Bank of Slovakia (NBS) projects that GDP will grow 3.2% in 2015 and 3.8% in 2016. FocusEconomics Consensus Forecast panelists expect GDP growth to reach 2.7% in 2015, which is up 0.1 percentage points from last month’s forecast. For 2016, the panel projects that economic growth will accelerate to 3.0%.

Author:, Economist

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Slovakia GDP Chart

Slovakia GDP Q1 2015

Note: Year-on-year changes of GDP in %.
Source: Statistical Office of the Slovak Republic (SOSR) and FocusEconomics Consensus Forecast.

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