Pessimism takes over German firms operating in Slovakia

Slovakia heading towards mild recession, analyst says.

In the third quarter of this year, Slovakia’s gross domestic product increased by 1.2 percent year-on-year.

The Statistics Office published the GDP flash estimate on Tuesday, adding that the GDP rose by 0.3 percent quarter-to quarter. The GDP created in the third quarter amounted to €28.3 billion, up by 8.8 percent year-on-year.

SkryťTurn off ads
Article continues after video advertisement
SkryťTurn off ads
Article continues after video advertisement

The volume of GDP exceeded a pre-crisis level from the same period in 2019 by 1.6 percent.

It was most likely households that supported the Slovak economy in the first place. Nevertheless, experts opine that rising inflation will force households to spend less.

SkryťTurn off ads

In October 2022, consumer prices increased by 14.9 percent year-on-year. Food prices alone increased by 26.8 percent, the Statistics Office recently announced, the highest value in 22 years. In September, the inflation rate stood at 14.2 percent.

As the Statistics Office pointed out, car production also positively influenced the country’s economic performance after a long time. Conversely, a decrease in added value was recorded in the production of metals and metal structures due to the energy crisis.

The rest of this article is premium content at Spectator.sk
Subscribe now for full access

I already have subscription - Sign in

Subscription provides you with:
  • Immediate access to all locked articles (premium content) on Spectator.sk
  • Special weekly news summary + an audio recording with a weekly news summary to listen to at your convenience (received on a weekly basis directly to your e-mail)
  • PDF version of the latest issue of our newspaper, The Slovak Spectator, emailed directly to you
  • Access to all premium content on Sme.sk and Korzar.sk

Top stories

Janka, a blogger, during the inauguration of the first flight to Athens with Aegean Airlines at the airport in Bratislava on September 14, 2023.

A Czech rail operator connects Prague and Ukraine, Dominika Cibulková endorses Pellegrini, and Bratislava events.


Píšem or pišám?

"Do ľava," (to the left) I yelled, "Nie, do prava" (no, to the right), I gasped. "Dolšie," I screamed. "Nie, nie, horšie..." My Slovak girlfriend collapsed in laughter. Was it something I said?


Matthew J. Reynolds
Czech biochemist Jan Konvalinka.

Jan Konvalinka was expecting a pandemic before Covid-19 came along.


SkryťClose ad