Slovakia GDP


Slovakia: GDP growth picks up in first quarter and reaches two-year high

May 20, 2014

In the first quarter, GDP grew 2.4% over the same period of the previous year according to the preliminary estimate released by the Statistical Office of the Slovak Republic (SOSR) on 15 May. The print, which came in above the 1.5% expansion registered in Q4, marked the largest expansion since Q1 2012. More detailed data will be released on 4 June.

A quarter-on-quarter comparison confirms the improvement suggested by the annual figures; GDP rose a seasonally-adjusted 0.6% over the previous quarter, which marked a moderate increase over the 0.4% expansion tallied in Q4 and the highest growth rate since Q4 2011.

The National Bank of Slovakia (NBS) projects that GDP will grow 2.4% in 2014 and 3.3% in 2015. FocusEconomics Consensus Forecast panelists expect GDP growth to reach 2.2% this year, which is unchanged from last month’s forecast. For 2015, the panel projects that economic growth will accelerate to 2.9%.

Author: Teresa Kersting, Economist

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Slovakia GDP Chart

Slovakia GDP Q1 2014

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

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