Current Account in Slovakia
Slovakia - Current Account (billions of Euros)GDP growth improved in the first quarter of this year. The acceleration was spearheaded by stronger domestic demand: Eased Covid-19 restrictions pushed up average annual retail sales growth to 16.0% in Q1 from 2.4% in Q4, pointing to healthier private spending growth. Less positively, the external sector weakened in Q1, weighing on the overall result. Turning to Q2, available data paints a mixed picture. Both business and consumer confidence improved in April, suggesting that private sector was broadly resilient to a slowing global economy and supply bottlenecks arising from the war in Ukraine and lockdowns in China. That said, inflation shot up to a record high in April and will likely remain at all-time highs in the coming months, in turn hurting household consumption in Q2. Meanwhile, on 23 May, S&P Global Ratings slashed the outlook of Slovakia’s A+ rating from stable to negative.
Slovakia - Current Account (EUR bn) Data
|Current Account Balance (EUR bn)||-1.4||-1.8||-1.7||-2.3||-2.7|
5 years of economic forecasts for more than 30 economic indicators.
Slovakia Current Account (EUR bn) Chart
Source: Bank of Slovakia.
|Bond Yield||0.13||-4.12 %||Dec 31|
|Exchange Rate||1.12||0.65 %||Dec 31|
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November 16, 2022
Harmonized inflation surged to 14.5% in October, above September’s 13.6%.
November 15, 2022
After a downward revision over H1, flash GDP data shows that year-on-year growth moderated slightly in Q3, coming in at 1.2% (Q2: 1.3%).
November 10, 2022
Industrial output dropped 1.9% year on year in September (August: -2.0% yoy).
October 19, 2022
Harmonized inflation inched up to 13.6% in September, above August’s 13.4%.
October 10, 2022
Industrial output dropped 2.0% year on year in August (July: -6.4% yoy).