SLOVAKIA’S economic growth stood at 1.5 percent in the last quarter of 2013, up from 0.9 percent in the third quarter. After seasonal adjustment, GDP rose by 1.3 percent, according to the flash estimate issued by the Statistics Office on February 14.

This means the country secured its quarter-on-quarter growth, which after seasonal adjustment stood at 0.4 percent during the last three months of 2013. The volume of GDP at current prices reached €18.391 billion, an increase by 1.5 percent year-on-year.

The total employment in the 4Q reached 2.196 million people, which is by 0.1 percent more than in 4Q of 2012. Seasonally adjusted total employment remained on the same level as compared to the 4Q of 2012. It rose by 0.3 percent as compared to the third of quarter 2013.

The published data is better than the expectations of bank analysts who had predicted that the economic growth will stand at 1.2 percent in the last quarter of 2013. They also had said that the overall growth for 2013 will be 0.8 percent, the SITA newswire reported.

The Statistics Office will publish the detailed data for the Slovak economy in fourth quarter of 2013 on March 5.

Source: Statistics Office website, SITA

Compiled by Radka Minarechová from press reports

The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.