Slovakias economic growth speeds up to 3.4% y/y in Q4 flash estimate.

By bne IntelliNews February 16, 2012
Slovakias annual economic growth accelerated to 3.4% in the fourth quarter of 2011 from a 3% yearly rise in the third quarter, flash estimates of the statistics office showed. On a seasonally-adjusted basis, the gross domestic product (GDP) grew 3.3% y/y in Q4 and rose 0.9% compared to the previous quarter. The volume of the GDP at current prices reached EUR 17.8bn in Q4, up 5.3% from a year ago. The statistics office said it would publish more detailed GDP figures on March 6. The Slovak finance ministry has forecast the economic growth at 3% in 2011. It slashed last week its 2012 GDP projection to 1.1% from 1.7% due to the debt crisis in the euro zone, which hit Slovakias export-driven economy. Slovakias economy expanded by 3.5% y/y in Q2 2011 and 3.4% in Q1 2011.

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