GDP in Slovakia
Slovakia - GDP (billions of Euros)
Growth ticks up in Q1 on upbeat external demand
The economy got off to a good start in the first quarter of the year, amid upbeat external demand and despite an across-the-board slowdown in the domestic economy. GDP rose 3.7% year-on-year in Q1, edging up from Q4 2018’s 3.6% outturn, according to detailed national accounts data released on 6 June.
Domestic demand lost stride in the first quarter. Household spending reported the slowest expansion in over five years, against the backdrop of higher inflation and lower consumer sentiment (Q1: +1.0% year-on-year; Q4 2018: +3.4% yoy). Meanwhile, fixed investment growth plunged (Q1: +2.0% yoy; Q4: +9.0% yoy), owing to finished projects in the auto sector, while government consumption growth also more than halved (Q1: +3.8% yoy; Q4: +1.5% yoy).
The external sector, conversely, strengthened in the quarter on strengthening export growth and slumping import growth. Export growth accelerated to 7.2% year-on-year (Q4: +4.7% yoy), thanks to upbeat external demand and strong industrial production in the auto sector, while import growth slowed to 6.4% (Q4: +7.8% yoy).
On a quarter-on-quarter, seasonally-adjusted basis, GDP growth in the first quarter came in at 0.9%, up from the 0.8% expansion logged in Q4.
FocusEconomics Consensus Forecast panelists expect GDP growth to reach 3.4% in 2019, which is unchanged from last month’s forecast, before moderating to 3.1% in 2020.
Slovakia - GDP (EUR bn) Data
|GDP (EUR bn)||74.2||76.1||79.1||81.2||84.9|
5 years of economic forecasts for more than 30 economic indicators.
|Bond Yield||0.0||-4.12 %||Jul 11|
|Exchange Rate||1.13||0.65 %||Jul 11|
|Stock Market||343||0.0 %||Jul 11|
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July 17, 2019
Consumer prices rose 0.1% month-on-month in June, down from May’s 0.3% increase.
July 10, 2019
Industrial production grew 4.7% on an annual basis in May, decelerating from April’s revised 7.0% expansion (previously reported: +6.3% year-on-year).
June 18, 2019
Consumer prices rose 0.3% month-on-month in May, up from April’s 0.2% increase.
June 10, 2019
Industrial production grew 6.3% on an annual basis in April, decelerating from March’s 7.8% expansion (previously reported: +7.3% year-on-year), which had marked a two-year high.
June 6, 2019
The economy got off to a good start in the first quarter of the year, amid upbeat external demand and despite an across-the-board slowdown in the domestic economy.