Slovakia Economic Outlook
February 27, 2018Annual economic growth sped up slightly in Q4, according to a recent flash estimate. Although a breakdown by components is not yet available, high-frequency indicators suggest solid household consumption was again behind the positive performance. The unemployment rate declined throughout the fourth quarter of last year and retail sales were strong throughout the quarter. Looking at the start of 2018, survey-based data indicates that consumer sentiment strengthened in January, which bodes well for household spending. However, business confidence declined in the same month, mainly dragged down by lower confidence in the industry and construction sectors. In order to address the problem of rising shortages of skilled labor, parliament approved a law in mid-February that simplifies conditions for hiring professionals from non-EU countries. The measure will help employers find qualified workers and should reduce capacity constraints.
Slovakia Economic GrowthThe economy is on track to record another year of sustained growth. The industrial sector is expected to expand robustly, benefiting from increasing demand from the Eurozone. This should underpin fixed investment, which will likely also be supported by increased EU funds, while tighter labor market conditions and solid wage growth should continue to spur consumer spending. Moreover, healthy GDP growth and a prudent fiscal stance will keep the public debt-to-GDP ratio on a downward trend. FocusEconomics panelists project GDP to expand 3.6% in 2018, which is unchanged from last month’s estimate, and 3.5% in 2019.
Slovakia Economy Data
5 years of Slovakia economic forecasts for more than 30 economic indicators.
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|Bond Yield||0.37||-4.12 %||Mar 15|
|Exchange Rate||1.23||0.65 %||Mar 15|
|Stock Market||335||0.0 %||Mar 15|
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Slovakia Economic News
March 14, 2018
Consumer prices increased 0.2% month-on-month in February, following January’s much stronger 0.8% increase.
March 13, 2018
Industrial production grew 2.2% year-on-year in January, contrasting December’s 1.1% contraction.
March 7, 2018
The economy continued to grow at a solid pace in the fourth quarter, according to more complete data released by the Statistical Office of the Slovak Republic (SOSR) on 7 March.
February 23, 2018
Consumer prices jumped 0.9% month-on-month in January, following December’s flat result.
February 14, 2018
The Slovak economy remains strong.