Slovak GDP growth hits 3.3% target in 2016

By bne IntelliNews February 14, 2017

Slovak GDP growth dropped to its lowest of the year in the fourth quarter of 2016 as it slowed to 3.1 % y/y, Slovak Statistics reported in a flash estimate on February 14.

The result leaves full-year economic expansion on target at 3.3%. While the statistics office is yet to offer any breakdown on the structure of economic growth last year, it is highly likely that the trends that dominated through the rest of 2016 persisted in the final three months.

Throughout the year, net exports and private consumption have offered momentum. Investment, while not as lacklustre as in Visegrad peers thanks to relatively strong private investment – especially in the auto sector -  has had a negative effect throughout.

That said, while a galloping improvement on the labour market has buoyed household consumption, retail sales remained tepid through much of 2016. Meanwhile, although export performance has been decent, the contribution of net exports to headline GDP growth is largely thanks to the fact that limited investment has kept a cap on imports. Industrial production remained modest through 2016.

Seasonally adjusted, the data was even weaker, with Q4 growth at 2.9%. In quarterly terms GDP grew 0.8%, a gain of 0.1pp over the result in July-September. A full report on fourth quarter GDP will be issued on March 7.

 

Read in IntelliNews Pro
Get IntelliNews Pro

Related Articles

How Ukrainian grain wrecked the Polish grain market

The Polish grain market has been thrown into disarray by cheap Ukrainian grain that sent prices plummeting in April, causing Warsaw to impose a five-month ban, backed up by the European Commission. ... more

Slovak OFZ aims to move part of production to Uzbekistan

Metallurgical company OFZ plans to transfer part of its production from Slovakia to Uzbekistan, The Slovak Spectator has reported. The ferroalloy production company from Oravsky Podzamok has ... more

EBRD 2023: EBRD, EU and ILX to co-operate to boost private-sector finance in Emerging Europe

The European Bank for Reconstruction and Development (EBRD), the European Union, and ILX Management, an emerging market asset manager, have joined forces to enhance private-sector finance in Emerging ... more

Follow Us On

Most Read

  1. Ukraine's birth rate plummets to 300-year low as country’s population collapses
    7 days ago
  2. EU finally boosts defence investment into arms production as Ukraine runs out of ammo
    1 month ago
  3. Fresh evidence suggests that the April 2022 Istanbul peace deal to end the war in Ukraine was stillborn
    8 days ago
  4. Don't mention the "D" word - Ukraine
    5 days ago
  5. UBN: The US Needs to Wake Up
    5 days ago
  1. Russia could pay off its entire external debt tomorrow, in cash
    25 days ago
  2. Speculation swirls of “Men in Blue” in Crocus City Hall terrorist attack linked to FSB
    30 days ago
  3. Albanians campaign on social media to keep bus bridge created in freak accident
    1 year ago
  4. BRICS announce a blockchain-based payment system to create a common currency
    28 days ago
  5. Saudi Arabia to scale back plans for Neom city
    15 days ago

Reports

Dismiss