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Slovakia’s economy posts feeble growth

Slovakia’s economy in the second quarter of 2013 posted a 0.9 percent growth on an annual basis thus keeping the country out of recession, according to the flash estimate of the Slovak Statistics Office released on August 24. In the first quarter of this year, the economy grew by 0.6 percent, the Slovak Statistics Office said.

Slovakia’s economy in the second quarter of 2013 posted a 0.9 percent growth on an annual basis thus keeping the country out of recession, according to the flash estimate of the Slovak Statistics Office released on August 24. In the first quarter of this year, the economy grew by 0.6 percent, the Slovak Statistics Office said.

Market watchers with commercial banks however had expected slightly lower second quarter growth, forecasting 0.7 percent. According to the July survey of Slovakia’s central bank, they predict 0.8 percent growth for the year, according to SITA newswire.

At current prices, the total GDP in the second quarter reached €18.242 billion, 2.4 percent up compared to the same period last year, the Slovak Statistics Office reported, adding that detailed GDP results will be available September 4.

Employment in Slovakia dropped by 1.3 percent year-on-year in the second quarter, representing almost 2.19 million people with jobs, according to the flash estimate. Without seasonal influences, the total employment dropped compared to the second quarter of 2012 by 1.2 percent and compared to the first quarter of this year by 0.4 percent.

Compiled by Spectator staff from press reports

The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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