GDP maintains high growth at 3.9 per cent in 1Q02

The Slovak economy grew 3.9 per cent in the first quarter of 2002 with the GDP hitting Sk244.8 billion, while real wages were up 3.7 per cent over the same period the year before, according to data from the Statistics Office.

Domestic consumption soared by 5.2 per cent year-on-year, while public sector consumption was up even higher, at 5.7 per cent, which is the second highest quarterly increase in the indicator since the founding of the Slovak Republic. Gross investments, meanwhile, were down 0.8 per cent.

The real wage increase was the highest in the past four years, although the indicator is expected to fall next year to as low as -1.3 per cent as the government resumes regulated price increases following September elections.

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