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Growth prognosis lowered (CORRECTED VERSION)

BANK analysts have slightly corrected their economic growth prognosis for this and next year. While in October they expected the economy to grow at 0.9 percent, they now say it will grow by 0.8 percent in 2013. The prognosis for 2014 says that the economy will grow at 1.9 percent, down by 0.2 percentage points compared to October’s expectations. In July, they forecast the economy would grow by 2.3 percent in 2014, the SITA newswire reported on November 26, citing the regular monthly survey of the National Bank of Slovakia (NBS), the country’s central bank, for November.

BANK analysts have slightly corrected their economic growth prognosis for this and next year. While in October they expected the economy to grow at 0.9 percent, they now say it will grow by 0.8 percent in 2013. The prognosis for 2014 says that the economy will grow at 1.9 percent, down by 0.2 percentage points compared to October’s expectations. In July, they forecast the economy would grow by 2.3 percent in 2014, the SITA newswire reported on November 26, citing the regular monthly survey of the National Bank of Slovakia (NBS), the country’s central bank, for November.

In addition to lower economic growth predictions, analysts have also slightly changed their prognosis for the rise in consumer prices. Harmonised inflation should stand at 1.1 percent at the end of this year, with inflation - measured using the national methodology - achieving 1 percent, down by 0.2 percentage points in both cases compared with October’s prognosis.

For 2014 commercial banks expect prices to grow by 2 percent, with harmonised inflation standing at 2.1 percent. In both cases it is 0.1 percentage points less than October’s prediction, SITA wrote.

Source: SITA

Compiled by Radka Minarechová from press reports

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