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Slovak GDP rose 0.6 percent in Q1, confirming Statistics Office’s mid-May flash estimate

Slovakia’s GDP rose 0.6 percent in the first three months of 2013, the Slovak Statistics Office informed, which is equal to €16.811 billion, and represents a 1.6-percent increase in current prices. The Slovak economy continues to grow slightly on a quarterly basis, when the Q1 2013 GDP rose from Q4 2012 by 0.2 percent after seasonal adjustments, the SITA newswire quoted the ŠÚ.

Slovakia’s GDP rose 0.6 percent in the first three months of 2013, the Slovak Statistics Office informed, which is equal to €16.811 billion, and represents a 1.6-percent increase in current prices. The Slovak economy continues to grow slightly on a quarterly basis, when the Q1 2013 GDP rose from Q4 2012 by 0.2 percent after seasonal adjustments, the SITA newswire quoted the ŠÚ.

According to analysts, the mild economic growth is a result of an increase in foreign demand, even though weak domestic demand dampened the growth. Exports of products and services increased by 4.2 percent in annual terms, while imports rose by only 1.6 percent. Domestic demand declined by 2.6 percentage point year-on-year, to 3.4 percent. Slovak results are still better than those of eurozone whose GDP decreased in Q1 by 0.2 percent on a quarterly basis, and in the European Union, GDP declined by 0.1 percent.

(Source: SITA)
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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