Slovakia Economic Outlook
May 28, 2019A preliminary estimate for economic activity confirmed growth marginally picked up in the first quarter. Notably, industrial production reported the strongest quarterly showing in over three years, owing to robust output in the all-important automotive sector. In turn, merchandise export growth accelerated in Q1, hinting that net trade supported the overall expansion. On the other hand, expenditure side activity appears to have softened in the quarter. Flagging retail sales, against the backdrop of lower consumer sentiment and higher inflation, suggest that households may have postponed purchases. Moreover, fixed investment likely moderated, as evidenced by deteriorating business sentiment and falling construction activity in Q1. Turning to Q2, household spending is expected to improve somewhat, underpinned by easing price pressures and improved consumer sentiment.
Slovakia Economic GrowthSlovakia’s economy is seen cooling somewhat this year, as the completion of projects in the vital automotive sector weighs on fixed investment. Nevertheless, resilient private consumption should cushion the downturn, while higher industrial output is expected to buttress export growth despite the fragile backdrop in Europe’s largest economies. FocusEconomics analysts expect growth of 3.6% in 2019, which is unchanged from last month’s forecast, and 3.2% in 2020.
Slovakia Economy Data
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Slovakia Economic News
June 18, 2019
Consumer prices rose 0.3% month-on-month in May, up from April’s 0.2% increase.
June 10, 2019
Industrial production grew 6.3% on an annual basis in April, decelerating from March’s 7.8% expansion (previously reported: +7.3% year-on-year), which had marked a two-year high.
June 6, 2019
The economy got off to a good start in the first quarter of the year, amid upbeat external demand and despite an across-the-board slowdown in the domestic economy.
May 17, 2019
Consumer prices rose 0.2% month-on-month in April, down from March’s 0.6% increase.
May 15, 2019
In the first quarter of the year, economic growth edged up to 3.7% on an annual basis (Q4 2018: +3.6% year-on-year), according to preliminary data released by the Central Statistics Office (KSH) on 15 May.