BRATISLAVA, August 25, (WEBNOVINY)- Negative reports from the global market have already negatively affected prognoses of the Slovak economic growth. Banking houses have decreased their expectation of the country’s economic growth for this and also next year in August. According to the August round of the National Bank of Slovakia (NBS) regular survey among bank analysts, Slovakia’s GDP should grow 3.1 percent this year, which is a month-on-month decrease in the prognosis by 0.5 percentage points.
However, bankers cut their next year’s estimates of Slovakia’s economic growth even more considerably. While in July they prognosticated the economy of the country to boost 4.3 percent in 2012, in August they forecast only a 2.9-percent growth.
Lower economic growth, however, brings about a more positive development of consumer prices. Analysts have decreased their outlook of this year’s end-year harmonized inflation by 0.4 percentage points to 4.3 percent, while inflation according to the national methodology should fall 0.3 percentage points to 4.2 percent. Prognoses of next year’s end-year inflation dropped as well. The harmonized inflation prognosis fell from 3.5 percent to 3.2 percent and the drop is 0.2 percentage points to 2.8 percent with national inflation.
The flash estimate of the Statistics Office for the second quarter of this year already hinted a slowdown in the economic growth. According to this information the y/y pace of the GDP growth reached 3.3 percent while the economy grew 3.5 percent in the first quarter. However in q/q terms the Slovak economy still keeps almost one-percent growth. According to seasonally adjusted data it reached a q/q increase of 0.9 percent, just as in the first quarter.
SITA
