Slovakia: Growth ticks up in Q1
May 15, 2019
In the first quarter of the year, economic growth edged up to 3.7% on an annual basis (Q4 2018: +3.6% year-on-year), according to preliminary data released by the Central Statistics Office (KSH) on 15 May. On a seasonally-adjusted quarter-on-quarter basis, GDP growth in the first quarter inched up to 0.9%, from Q4’s 0.8% expansion.
Although a breakdown by components is not yet available, upbeat export growth is likely to have underpinned the overall expansion amid strong industrial production in the all-important automotive sector. Private consumption, on the other hand, seems to have eased somewhat, reflected by rising inflation and slower retail sales throughout the quarter.
More detailed data will be released on 6 June.
Author: Nicolás J. Aguilar, Economist