The Slovak Statistics Office on Wednesday, June 3, confirmed that the Slovak economy suffered a significant slump during the first quarter of 2009, amending its preliminary estimate of a 5.4-percent fall year-on-year in gross domestic product (GDP) to a 5.6-percent drop.
GDP reached €14.648 billion in 1Q09. “The drop is reflected in all GDP components except for public-administration consumption. Non-domestic demand went down by 24.3 percent and domestic demand by 4.6 percent,” said the Statistics Office, as quoted by the TASR newswire.
GDP produced to meet domestic demand fell by 16.4 percent y-o-y, while household end consumption was down 1.2 percent. The end consumption of the public sector increased by 1.2 percent. Imports of products and services fell by 22.6 percent. TASR
Compiled by Zuzana Vilikovská from press reports
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