In the fourth quarter, GDP expanded 3.5% over the same quarter of the previous year, which was slightly below the 3.8% growth registered in the third quarter. In the full year, economic growth swung from negative 4.7% in 2009 to positive 3.6% in 2010. The Q4 print was mainly driven by stronger external demand, as the contribution of domestic demand to GDP growth decelerated. Fixed investment accelerated to 10.6% in the fourth quarter, up from growth of 4.8% recorded in the third quarter. Moreover, private consumption rebounded and added 0.5% in the fourth quarter (Q3: -0.3% year-on-year). Exports of goods and services expanded 14.3% in the fourth quarter (Q3: +17.3% yoy) and imports added 13.5% (Q3: +19.2% yoy). As a result, the net contribution from the external sector increased from plus 1.0 percentage points in the third quarter to plus 2.1 percentage points in the fourth. A quarter-on-quarter analysis corroborates the slight slowdown suggested by the annual figures, as the economy added a seasonally adjusted 0.9% over the previous quarter (Q3: +1.0% qoq). The Central Bank expects GDP to grow 3.3% in 2011 and 4.5% in 2012.
Economy slows in the fourth quarter
March 3, 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.