Slovakia Economic Outlook
December 20, 2019Economic growth slowed to a near six-year low in the third quarter, on the heels of the second quarter’s moderation. Both public expenditure and private consumption decelerated in Q3, while exports shriveled again amid gloomy dynamics in the EU. Fixed investment, however, jumped, thus cushioning the overall moderation. Heading into the fourth quarter, available data hints at lingering economic weakness. Industrial production contracted for the third straight month in October as weak external demand continued to hamper the automotive sector, while sentiment in the industrial sector remained downbeat in October–November. Moreover, retail sales shrank and wage growth slowed sharply in October, while consumer confidence fell to an over three-year low in November, suggesting faltering household spending in the final months of the year.
Slovakia Economic GrowthGrowth should remain broadly stable next year, supported by resilient private consumption amid a tight labor market. The key risks to the outlook are weak foreign demand–as consumers move away from diesel-powered vehicles–and the renewed U.S. tariffs threats. FocusEconomics panelists see growth of 2.5% in 2020, down 0.1 percentage points from last month’s forecast, and 2.7% in 2021.
Slovakia Economy Data
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|Bond Yield||0.13||-4.12 %||Dec 31|
|Exchange Rate||1.12||0.65 %||Dec 31|
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Slovakia Economic News
December 18, 2019
Consumer prices rose 0.2% in November, contrasting October’s 0.1% fall.
December 10, 2019
Industrial production fell 3.9% year-on-year in October, following September’s 2.5% dip and marking the third consecutive month of contraction.
December 5, 2019
The economy grew 1.3% year-on-year in the third quarter, down from the second quarter’s 2.2% expansion, according to detailed national accounts data released on 5 December.
November 15, 2019
Consumer prices fell 0.1% month-on-month in October, contrasting September’s 0.1% rise.
November 14, 2019
The economy expanded 1.3% year-on-year in the third quarter, down from the second quarter’s revised 2.2% expansion (previously reported: +2.0% year-on-year) and marking the lowest reading since Q2 2013, according to a preliminary GDP estimate released on 14 November.