Economy booms in second quarter

Data released by the Statistical Office yesterday showed a seven per cent jump in real wages year-on-year in the second quarter of 2002, the highest quarterly rise in five years, and a 4.0 per cent rise in GDP, the highest since 1998 elections.

Because the growth was based on high consumer and state spending (up 5.9 and 7.7 per cent, respectively), and because corporate investment increased only 0.1 per cent from a year ago, economists said they expected the growth would not last.

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

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