Consumption in Slovakia
Slovakia - Consumption
Economic growth gains speed in Q4
The economy picked up pace in the final quarter of 2019. According to a preliminary GDP estimate released on 14 February, economic growth accelerated to 2.1% year-on-year in the fourth quarter, up from Q3’s 1.3% expansion. On a seasonally-adjusted quarter-on-quarter basis, economic activity rose 0.6% in Q4, up from Q3’s 0.4% rise.
While a breakdown by components is not yet available, tight labor market conditions and robust wage growth should have supported household consumption in the quarter. Meanwhile, solid credit growth to non-financial corporations amid improved economic sentiment suggest fixed investment was robust in the period. Meanwhile, industrial production contracted at a faster pace in Q4, likely weighed on by falling activity in the all-important automotive sector amid subdued external demand.
More detailed data will be released on 6 March.
FocusEconomics Consensus Forecast panelists estimate growth of 2.4% in 2020, which is down 0.1 percentage points from last month’s forecast. For 2021, the panel projects the economy will expand 2.6%.
Slovakia - Consumption Data
|Consumption (annual variation in %)||1.4||2.3||2.9||3.5||3.0|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||0.13||-4.12 %||Dec 31|
|Exchange Rate||1.12||0.65 %||Dec 31|
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February 14, 2020
The economy picked up pace in the final quarter of 2019.
February 14, 2020
Consumer prices rose 1.2% in January, contrasting December’s 0.1% fall.
February 10, 2020
Industrial production plunged 7.1% in December, following November’s 4.4% decline, and thus marking the fifth consecutive month of contracting industrial activity and the fastest contraction since August 2019.
January 14, 2020
Consumer prices fell 0.1% in December, contrasting November’s 0.2% rise.
January 10, 2020
Industrial production fell 4.4% in November, following October’s revised 4.0% decline (previously reported: -3.9% year-on-year), and marking the fourth straight month of downturns in industrial activity.