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Slovakia Q3 GDP Growth Confirmed at 1.1%

Figures

Photo by Feng Yu / Shutterstock.com

Slovakia's economic advanced by 1.1% year-on-year in the third quarter of 2023, matching preliminary estimates, and following a 1.5% growth in the previous three-month period, the Slovak Statistical Office (SÚSR) announced on Tuesday.

In the third quarter, household consumption dropped at a softer pace (-1.8% vs -3.6% in Q2), indicating a gradual loosening of consumer restrictions, whereas government spending rebounded (2.9% vs -2.2%).

Additionally, a smaller rise was seen on fixed investments (2.8% vs 12.4%).

Meanwhile, foreign trade contributed positively to the gross domestic product (GDP), as exports rose by 0.1% (vs -0.8%), while imports fell by 4% (vs -8%). On a seasonally adjusted quarterly basis, the economy expanded by 0.2%, confirming initial estimates.

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