Slovakia Economic Outlook
July 24, 2018
The economy is expected to have broadly kept pace in the second quarter, after recording solid growth in the first quarter on the back of robust domestic demand. As suggested by healthy expansions in retail sales in April and May, consumer spending held up well in Q2, underpinned by falling unemployment and robust wage growth. Moreover, external demand regained some steam in the first two months of Q2, after dragging on growth in Q1. At the same time, softening economic sentiment throughout the second quarter is consistent with a lackluster performance in the industrial sector against a moderation in economic momentum in the EU. Furthermore, some signs of overheating are coming from the credit sector. Against a backdrop of surging house prices and growth in lending, in early July the Central Bank decided to increase banks’ countercyclical capital buffers and tighten mortgage regulations. The measure will come into force in August 2019 and aims to squeeze credit supply and cool the real estate market.Slovakia Economic Growth
Favorable financial conditions and robust inflows of EU funds should continue to support fixed investment, while a buoyant labor market and strong wage gains will underpin consumer spending going forward. The main downside risk stems from the possible imposition of car tariffs by the U.S.; conversely, a relocation of car factories from the UK to continental Europe could boost growth. Political instability, however, still represents a risk. FocusEconomics panelists project GDP will expand 3.7% in 2018, unchanged from last month, and 3.5% in 2019.Slovakia Economy Data
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Slovakia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.53 | -4.12 % | Aug 15 |
| Exchange Rate | 1.13 | 0.65 % | Aug 15 |
| Stock Market | 331 | 0.0 % | Aug 15 |
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Slovakia Economic News
Slovakia: Growth accelerates in Q2
August 14, 2018
The Slovak economy gained steam in the second quarter.
Slovakia: Growth in industrial production moderates further in June
August 13, 2018
Industrial production expanded 2.1% year-on-year in June, down from May’s revised 2.9% increase (previously reported: +2.5% year-on-year).
Slovakia: Inflation accelerates in June
July 18, 2018
Consumer prices increased 0.1% month-on-month in June, up from the flat reading logged in May.
Slovakia: Growth in industrial production softens in May
July 12, 2018
Industrial production expanded 2.5% year-on-year in May, down from April’s revised 4.1% increase (previously reported: +4.2% year-on-year).
Slovakia: Inflation ticks down in May
June 14, 2018
Consumer prices were flat in May, down from the 0.6% month-on-month increase logged in April.
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