IN SHORT BUSINESS

GDP grows; employment, wages rise

THE SLOVAK economy grew by 5.1 percent year-on-year in the second quarter of 2005, with a gross domestic product of Sk357.6 billion (€9.3billion), the TASR news agency wrote, based on information released on September 9 by Slovakia's Statistics Office (ŠÚ).

The GDP for the first half of 2005 stood at Sk690.2 billion (€17.9 billion), and was also up by 5.1 percent year-on-year.

Positive results were also reported in areas such as unemployment and wages.

According to the ŠÚ, unemployment decreased by two percent year-on-year to 16.9 percent in the first half of 2005. The employment rate increased 2.2 percent to 2.187 million people.

Nominal monthly wages increased by 8.2 percent year-on-year in the second quarter of 2005 to reach Sk16,737 (€435), while real salaries were up 5.6 percent.

In the first half of 2005, monthly nominal salaries in Slovakia rose by an average of 9.1 percent to Sk16,381. Real salaries increased 6.2 percent year-on-year.

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