In the third quarter, GDP expanded 3.0% over the same quarter the previous year, below the 3.5% increase tallied in the second quarter. The result was revised 0.1 percentage points upwards from the flash estimate released by the Statistical Office of the Slovak Republic (SOSR) on 15 November. In seasonally adjusted terms, GDP rose by 0.8% over the previous quarter, the same pace as in the second quarter. According to the SOSR, external demand helped to prop up growth in the third quarter. Fixed investment increased 5.9% year-on-year in the third quarter, down from the 6.4% growth recorded in the second quarter. Private consumption contracted 0.9% in the third quarter, more than the 0.1% decrease tallied in the second. Moreover, government consumption fell 3.3% (Q2: -5.1% year-on-year). Exports of goods and services expanded 6.8% in the third quarter (Q2: +13.1% yoy), while imports declined 1.8%, contrasting the 10.9% increase registered in the second quarter. As a result, the external sector's net contribution to overall economic growth improved from plus 2.5 percentage points in the second quarter to plus 6.8 percentage points in the third. The Central Bank expects GDP to grow 3.4% in 2011 and 3.8% in 2012.
Economic growth decelerates in the third quarter
December 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.