BRATISLAVA, June 26, (WEBNOVINY) — The development of Slovakia’s gross domestic product as well as the labor market in the first quarter of this year exceeded the central bank’s expectations, the bank states in its regular monthly evaluation of economic development. Already in mid-June, the National Bank of Slovakia (NBS) revised upward its economic growth forecast for this year based on Q1 data from the original 2.1 percent to 2.5 percent.
The gross domestic product in the first quarter rose 3 percent in constant prices, according to data of the Statistics Office of the Slovak Republic. In the last quarter of 2011, GDP grew 3.4 percent. Compared with the previous quarter, GDP swelled 0.7 percent in the first quarter of this year in contrast to 0.8 percent in Q4 of last year. Overall employment during the first three months of the year rose by 0.6 percent y/y and by 0.2 percent q/q.
SITA
