Slovakia GDP Q4 2015


Slovakia: Economy ends 2015 on strong footing

February 12, 2016

Continued support from European Union funds bolstered investment throughout 2015, which benefited overall economic growth. This situation was strengthened by improving labor market conditions and the decline in oil prices. In the fourth quarter, GDP grew 4.2% over the same period of the previous year, according to preliminary data released by the Statistical Office of the Slovak Republic (SOSR) on 12 February. The print came in above the 3.7% increase tallied in Q3 and marked the highest reading since Q4 2010.

On a sequential basis, the economy grew a seasonally-adjusted 1.0% in Q4, which was above the 0.9% rise tallied in Q3. More detailed data will be released on 8 March.

The National Bank of Slovakia (NBS) projects that GDP will grow 3.2% in 2016 and 3.3% in 2017. FocusEconomics Consensus Forecast panelists expect GDP growth to reach 3.2% in 2016, which is unchanged from last month’s forecast. For 2017, the panel also projects that economic growth will increase 3.2%.

Author: Ricard Torné, Lead Economist

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Slovakia GDP Chart

Slovakia GDP Q4 2015

Note: Year-on-year changes of GDP in %.
Source: Statistical Office of the Slovak Republic (SOSR) and FocusEconomics Consensus Forecast.

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