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.
Author: Nihad Ahmed, Economist