Retail Sales in Slovakia
Slovakia - Retail SalesThe economy fell into recession in Q2, with GDP nosediving at a record-breaking year-on-year pace as the full brunt of the pandemic was felt. Industrial output contracted by over 25% in the quarter, reflecting weakened manufacturing activity amid temporary lockdown restrictions in the all-important car industry. Moreover, retail sales declined sharply in Q2, while the unemployment rate climbed to a two-year high in June, spelling trouble for household spending. On a brighter note, however, both consumer and industrial sector business sentiment improved in July–August amid the lifting of containment measures, with firms expecting an uptick in production in the three months ahead. Moreover, the country is poised to receive a EUR 631 million loan under the SURE scheme to help cover the costs of unemployment spending, according to an EC proposal released on 24 August.
Slovakia - Retail Sales Data
|Retail Sales (annual variation in %)||1.7||2.1||6.0||3.7||-1.3|
5 years of economic forecasts for more than 30 economic indicators.
Slovakia Retail Sales Chart
Source: Slovakia Statistical Office (SOSR) and FocusEconomics calculations.
|Bond Yield||0.13||-4.12 %||Dec 31|
|Exchange Rate||1.12||0.65 %||Dec 31|
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September 14, 2020
Consumer prices slid 0.10% over the last month in August, contrasting July’s 0.10% increase.
September 10, 2020
Industrial output declined 3.6% compared to the same month of the previous year in July, a less pronounced drop than June's 8.5% decrease.
September 4, 2020
A second estimate confirmed that the economy shrank 12.1% on an annual basis in Q2, matching the preliminary release and dropping at a significantly faster pace than Q1’s 3.7% contraction.
August 14, 2020
According to a preliminary GDP estimate, the economy collapsed in the second quarter, with GDP nosediving 12.1% (Q1 2020: -3.7% year-on-year) as the pandemic and related measures took their toll on activity.
August 13, 2020
Consumer prices edged up 0.10% over the last month in July, bouncing back from June’s 0.10% drop.