BRATISLAVA, February 15, (WEBNOVINY) – The growth dynamics of the Slovak economy in the last quarter of 2011 moderately accelerated. According to a flash estimate of the Statistics Office of the Slovak Republic, the year-on-year pace of real growth of the gross domestic product over the last three months of last year reached 3.4 percent, which was 3 percent in the previous quarter. In quarterly terms, the Slovak economy maintained solid pace, going up 0.9 percent q/q. In the third quarter, the economy rose 0.8 percent.
Net of seasonal influences, the gross domestic product in Q4 of last year went up 3.3 percent y/y. In current prices, gross domestic product worth EUR 17.806 billion was generated, up 5.3 percent on the year before. The statisticians will disclose updated results of the Slovak economy for the last quarter of 2011 on March 6, 2012.
The development of the Slovak economy at the end of last year was much more positive than bank analysts had predicted. According to a regular survey of the central bank, analysts estimated that the GDP will grow 2.3 percent y/y in the last quarter and 3 percent for the whole of 2011. For this year, analysts predict a significant slowdown. Banks anticipate growth of 0.8 percent, while the Finance Ministry prognosticates 1.1-percent growth.
SITA
