In the third quarter, gross domestic product (GDP) expanded 3.8% over the same period last year. The result was down from the 4.2% expansion registered in the second quarter. However, the reading was revised upwards from the 12 November flash estimate that reported economic growth of 3.7%. The result reflected strengthening domestic demand while external sector weakened. Private consumption declined 0.3%, following on the 1.4% contraction recorded in the second quarter. On the other hand, gross fixed investment expanded 4.8%, up from a 1.8% increase in the second quarter. Exports of goods and services added 14.8% year-on-year, down from the 16.1% growth recorded in the second quarter. Meanwhile, imports grew 16.6%, up from the 16.0% expansion in the second quarter. As a result, the net contribution from the external sector to overall growth fell from a 3.7 percentage-point contribution in the second quarter to 0.8 percentage points in the second. A quarter-on-quarter analysis corroborates the slowdown suggested by the annual figures, as the economy added a seasonally adjusted 1.0% over the previous quarter (Q2: +1.2% qoq). The Central Bank currently forecasts the economy to grow 4.3% this year and to decelerate to 3.3% in 2011.
Economy advances at faster pace than previously estimated
December 2, 2010
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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.