Slovakia: Economy decelerates in the third quarter
November 15, 2011
According to the flash estimate released by the Statistical Office of the Slovak Republic (SOSR), GDP grew 2.9% over the same quarter of the previous year, which was down from the 3.3% expansion tallied in the second quarter. The result came in a notch below market analysts' expectations that predicted the economy to advance at a slightly faster rate of 3.0% year-on-year. In seasonally adjusted terms, GDP rose by 0.7% quarter-on-quarter (Q2 2011: +0.8% qoq). The Statistics Institute did not publish a detailed breakdown of GDP data. A full estimate of national account figures for the third quarter of 2011 will be released on 6 December. The Central Bank expects the economy to expand 3.4% in 2011 and 3.8% in 2012.