Slovakia Economic Outlook
September 26, 2017Slovakia continues to be one of the fastest growing economies in the Eurozone. Earlier this month, the preliminary estimate for Q2 GDP was confirmed at 3.3% growth annually. As expected, the print, an improvement over Q1’s 3.1% rise, was led by an increase in private consumption, which has benefitted from a strong labor market. On the downside, growth in exports tumbled due to a slowdown in the auto industry—one of the key drivers of economic growth—as worker shortages persist amid record low levels of unemployment. Despite bottlenecks in the car manufacturing sector, business confidence climbed into positive territory following two consecutive months of decreases. Consumer confidence also showed slight improvement, rising to the highest level since December of last year, albeit remaining in pessimistic territory.
Slovakia Economy Data
5 years of Slovakia economic forecasts for more than 30 economic indicators.
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|Bond Yield||0.19||-12.73 %||Oct 16|
|Exchange Rate||1.18||-0.32 %||Oct 16|
|Stock Market||310||-0.84 %||Oct 16|
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Slovakia Economic Growth
September 26, 2017Resilient growth in EU trading partners should buoy exports and keep the economy on a solid trajectory this year and next. However, the downward trend in working-age population suggests growing pressures on the labor supply going forward and poses a downside risk to long-term growth potential. Our panelists project GDP will expand 3.2% in 2017, and expect growth to accelerate to 3.5% in 2018, which is up 0.1 percentage points from last month’s estimate.
Slovakia Economic News
September 18, 2017
In August, consumer prices came in flat from the previous month, inching down from a 0.1% rise in July.
September 11, 2017
In July, industrial production growth surged to 9.2% year-on-year, following a modest increase of 3.1% in June.
September 5, 2017
The economy made some gains in the second quarter, according to data released by the Statistical Office of the Slovak Republic (SOSR) on 5 September.
August 17, 2017
In July, consumer prices rose 0.1% from the previous month, contrasting June’s standstill result.
August 16, 2017
Preliminary data released by the Statistical Office of the Slovak Republic (SOSR) showed GDP rose 3.3% annually in Q2, slightly up from Q1’s 3.1% and above market expectations, which envisaged no change from the previous quarter. Although a breakdown by components has yet to be released, growth likely accelerated on the back of robust domestic demand.