GDP in Slovakia
Slovakia - GDP
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 - GDP Data
| 2014 | 2015 | 2016 | 2017 | 2018 | |
|---|---|---|---|---|---|
| Economic Growth (GDP, annual variation in %) | 2.8 | 4.2 | 3.1 | 3.2 | 4.1 |
Slovakia GDP Chart
Source: Slovakia Statistical Office (SOSR) and FocusEconomics calculations.
Slovakia Facts
| Value | Change | Date | |
|---|---|---|---|
| Bond Yield | 0.13 | -4.12 % | Dec 31 |
| Exchange Rate | 1.12 | 0.65 % | Dec 31 |
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Economic News
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Slovakia: Economic growth gains speed in Q4
February 14, 2020
The economy picked up pace in the final quarter of 2019.
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Slovakia: Industrial production growth slumps to four-month low in December
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.
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Slovakia: Inflation steady in December
January 14, 2020
Consumer prices fell 0.1% in December, contrasting November’s 0.2% rise.
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Slovakia: Industrial production contracts for fourth month straight in November
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.
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Slovakia: Inflation edges up in November
December 18, 2019
Consumer prices rose 0.2% in November, contrasting October’s 0.1% fall.
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