In the second quarter, GDP expanded 3.3% over the same quarter the previous year, below the 3.5% increase tallied in the first quarter. The result confirmed the flash estimate released by the Statistical Office of the Slovak Republic (SOSR) in August. In seasonally-adjusted terms, GDP rose by 0.9% over the previous quarter (Q1: +1.0% qoq). Fixed investment increased 6.2% year-on-year in Q2, up from the 1.2% growth recorded in the first quarter. On the other hand, private consumption was unchanged in the second quarter, contrasting a 0.1% contraction in the first. The slowdown in economic growth mainly reflected weaker external demand. Exports of goods and services expanded 12.4% in the second quarter (Q1: +15.8% year-on-year) and imports added 9.0% (Q1: +11.3% yoy). Due to a slowdown in export growth, the net contribution from the external sector to overall economic growth remained positive but decreased from plus 5.1 percentage points in the first quarter to plus 4.0 points in the second. The Central Bank expects GDP to grow 3.6% in 2011 and 4.7% in 2012.
Economy slows in second quarter
September 6, 2011
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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.