Improved economy is visible on labour market

SLOVAK GDP grew by 0.6 percent over the previous quarter, according to he National Bank of Slovakia (NBS), but the positive trend is threatened by stagnation within Eurozone.

SLOVAK GDP grew by 0.6 percent over the previous quarter, according to he National Bank of Slovakia (NBS), but the positive trend is threatened by stagnation within Eurozone.

“The rate of economy growth has been above 0.5 percent threshold in last three quarters which seemed to be unreachable between the beginning of 2012 and third quarter of 2013,” said NBS analysts, as quoted by the TASR newswire on August 14.

The growth is mirrored even by the fact that employers are willing to hire new people, as there have been 11,000 more employed people in the second quarter.

“The employment rate in the second quarter accelerated and q-o-q increase of 11,000 employed persons could be compared just to the end of 2010 when the employment rate was recovering from the crisis,” says NBS report, as quoted by TASR. “The fact remains that while GDP exceeds pre-crisis level by more than 5 percent; employment is 2 percent below its pre-crisis peak.”

The NBS warned of stagnation in the eurozone, and weak German economic sentiments.

“Export of Slovak goods has been already affected by those tendencies,” said NBS analysts.

Compiled by Roman Cuprik from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

Top stories

Tesco in Zvolen
Business

Tesco might quit Slovakia

BRITISH retail chain Tesco is pondering quitting Slovakia after 19 years and selling 155 outlets, 18 filling stations and two big distribution stores, the Sme daily wrote.

02. Mar 2015
Commissioner Maroš Šefčovič
Opinion

Why we need the Energy Union

The Energy Union is an ambitious project, but done correctly it will set the EU’s energy policy for the foreseeable future and bring long term benefits to both businesses and citizens.

02. Mar 2015
Politics & society

Minister seeks to modernise education

While Education Minister Juraj Draxler does not have a full four-year tenure to implement his vision for Slovakia’s education sector, he is offering plans that he thinks will push the country forward.

02. Mar 2015
Companies spend 207 hours on average fulfilling tax duties in Slovakia, the report found.
Business

Changes to corporate tax make slow progress

Country comes 100th in global ranking; high income tax and bureaucratic duties blamed.

02. Mar 2015