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Statistics Office reports Slovak economy grew by 3.5% in 1Q11

The Slovak economy grew by 3.5 percent in the first quarter of 2011 year-on-year, according to a preliminary estimate issued by Slovakia’s Statistics Office on May 13, the TASR newswire reported.

The Slovak economy grew by 3.5 percent in the first quarter of 2011 year-on-year, according to a preliminary estimate issued by Slovakia’s Statistics Office on May 13, the TASR newswire reported.

"After removing seasonal influences, GDP rose by 3.6 percent in the first quarter of this year compared to the first quarter of 2010, and by 1 percent compared to the last quarter of 2010," the Statistics Office was quoted by TASR.

GDP totalled €15.829 billion in current prices in the first three months of this year which constituted an increase of 4.5 percent on the year. The Slovak economy had increased by 4 percent in 2010.

The pace of growth decelerated gradually last year, from 4.7 percent in the first quarter to 3.5 percent in the closing quarter of the year. A more precise report on economic growth in the first quarter of 2011 will be released on June 8.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
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