Retail Sales in Slovakia

Slovakia Retail Sales | Economic News & Forecasts

Slovakia - Retail Sales

The 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

2015   2016   2017   2018   2019  
Retail Sales (annual variation in %)1.7  2.1  6.0  3.7  -1.3  

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Slovakia Retail Sales Chart

Slovakia Retail
Note: Annual variation of retail sales in %.
Source: Slovakia Statistical Office (SOSR) and FocusEconomics calculations.

Slovakia Facts

Value Change Date
Bond Yield0.13-4.12 %Dec 31
Exchange Rate1.120.65 %Dec 31

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