Slovakia: Economic growth maintains robust pace in Q1
May 13, 2011
According to the flash estimate released by the Statistical Office of the Slovak Republic (SOSR), GDP expanded 3.5% over the same quarter of the previous year, which was unchanged from the growth observed in the fourth quarter of 2010. The result came in above market analysts' expectations, which predicted the economy to advance at a slightly slower rate of 3.3% year-on-year. In seasonally adjusted terms, GDP rose by 1.0% quarter-on-quarter (Q4 2010: +0.9% qoq). The statistical institute did not publish detailed decomposition of the gross domestic product by either type of expenditure or sector. A full estimate of national account figures for the first three months of 2011 will be released on 8 June. The Central Bank expects the economy to expand 3.3% in 2011 and 4.5% in 2012.