Slovakia Economic Outlook
February 26, 2019A preliminary estimate suggests growth decelerated in the fourth quarter, likely reflecting the deteriorating European backdrop. Industrial production slowed amid the wider regional downturn, bruising export growth in the quarter. Domestic demand, however, appeared upbeat in Q4 as lower inflation and a tight labor market propelled retail sales. Meanwhile, business confidence within the industrial sector dipped into negative territory in January, even though new orders in the all-important automotive industry should cushion any further pullback in industrial production over the coming months. In other news, Donald Trump struck fear into European carmakers on 20 February by threatening to impose import tariffs on cars. The move would deal a big blow to the Slovak industrial sector, as it is deeply linked to the European supply chain.
Slovakia Economic GrowthLooking ahead, growth should moderate on a broad-based deceleration across the Eurozone, which will hurt the export-oriented economy. Fixed investment is expected to fall on the heels of a bumper year. That said, growth is still seen outpacing most of its Eurozone peers in the short-run amid all-time low unemployment and easing inflation. FocusEconomics analysts expect growth of 3.7% in 2019, which is down 0.1 percentage points from last month’s forecast, and 3.1% in 2020.
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|Bond Yield||0.45||-4.12 %||Mar 20|
|Exchange Rate||1.14||0.65 %||Mar 20|
|Stock Market||343||0.0 %||Mar 20|
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Slovakia Economic News
March 15, 2019
Consumer prices rose 0.2% month-on-month in February, down from January’s 1.1% increase.
March 11, 2019
Industrial production rose 7.2% on an annual basis in January, markedly up from December’s revised 4.3% increase (previously reported: +3.1% year-on-year).
March 7, 2019
Detailed national accounts data released on 7 March showed that the economy grew 3.6% year-on-year in the fourth quarter, moderating from the third quarter’s 4.6% expansion and in line with analysts’ expectations.
February 22, 2019
Consumer prices rose 1.1% month-on-month in January, up from December’s 0.1% fall.
February 14, 2019
Economic growth appears to have hit the brakes in the fourth quarter.