Slovakia GDP Q2 2017


Slovakia: GDP growth edges up in Q2

August 16, 2017

Preliminary data released by the Statistical Office of the Slovak Republic (SOSR) showed GDP rose 3.3% annually in Q2, slightly up from Q1’s 3.1% and above market expectations, which envisaged no change from the previous quarter.

Although a breakdown by components has yet to be released, growth likely accelerated on the back of robust domestic demand. Solid labor market dynamics fueled lower unemployment in Q2 and retail sales picked up pace in Q2.

Sequentially, the economy grew a seasonally-adjusted 0.8% in Q2, which mirrored Q1’s result. More detailed data will be published on 5 September.

The National Bank of Slovakia (NBS) projects that GDP will grow 3.2% in 2017 and 4.2% in 2018. FocusEconomics Consensus Forecast panelists expect GDP growth to reach 3.2% in 2017, which is unchanged from last month’s forecast. For 2018, the panel projects that economic growth will reach 3.3%.

Author:, Economist

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Slovakia GDP Chart

Slovakia GDP Q2 2017

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

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