BRATISLAVA, May 13, (WEBNOVINY) – The Slovak economy has kept its year-on-year growth rate from the end of last year also in early 2011. According to the flash estimate of the Statistics Office issued on Friday, gross domestic product grew by 3.5 percent in the first quarter of this year, which is the same rate as in the last three months of last year. Quarter-on-quarter, however, the country’s economy in the first quarter rose by 1 percent according to seasonally adjusted data, while in the fourth quarter of last year it was by 0.9 percent.
Net of seasonal influences, gross domestic product has increased over the first quarter of 2010 by 3.6 percent. GDP generated by the Slovak economy in the first three months of this year was 15.829 billion euros, which at current prices meant an annual increase of 4.5 percent. The Statistics Office will publish its update of results of GDP development for the first quarter on June 8.
Bank analysts have expected a further modest slowdown in annual growth of the economy. A survey by the National Bank of Slovakia assumed annual economic growth of 3.3 percent for the first three months of this year. For the whole of this year, bankers predict for Slovakia economic growth of 3.6 percent on average. The Slovak economy this year should be driven in particular by exports and investment activity.
SITA
