Slovakia Economic Outlook
March 3, 2020Growth picked up steam in Q4 2019, after falling to a near six-year low in Q3. Robust wage growth and tight labor market conditions should have buttressed private consumption, while healthy credit growth to non-financial corporations amid improved economic sentiment ought to have supported capital spending in the quarter. Meanwhile, industrial activity contracted at a quicker rate in Q4 compared to Q3, hampered by shriveling production in the all-important car sector amid muted external demand. Meanwhile, in politics, on 29 February the opposition Ordinary People party unexpectedly won Slovakia’s parliamentary election. The pro-EU and pro-NATO party, which ran on a firm anti-corruption agenda, won over one-third of parliamentary seats and is likely to form a center-right coalition ahead. The short-term economic outlook is unlikely to be significantly affected by changes in government, however.
Slovakia Economic GrowthThe economy is expected to grow at a robust pace this year, underpinned by healthy domestic demand amid buoyant private consumption and a tight labor market. However, key risks to the outlook are the industrial sector’s high dependence on diesel-related technologies, as consumers switch to electric vehicles, and sluggish global demand. FocusEconomics panelists see growth of 2.3% in 2020, down 0.1 percentage points from last month’s forecast, and 2.6% in 2021.
Slovakia Economy Data
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Slovakia Economic News
March 10, 2020
Industrial production rose 0.5% in January, contrasting December’s revised 6.9% contraction in December (previously reported: -7.1% year-on-year) and marking the first expansion since July last year.
March 6, 2020
A second estimate revealed the economy grew 2.0% year-on-year in the fourth quarter of last year (previously reported: +2.1% year-on-year), up from the 1.3% expansion in the third quarter which had marked the lowest result since Q2 2013.
February 28, 2020
bet360备用网址On 29 February, Slovakia will elect its new Parliament.
February 14, 2020
bet360备用网址The economy picked up pace in the final quarter of 2019.
February 14, 2020
bet360备用网址Consumer prices rose 1.2% in January, contrasting December’s 0.1% fall.