Slovak GDP unexpectedly rebounds in Q1

Figures

Slovakia's gross domestic product (GDP) rose 0.3% year-on-year in the first quarter of 2021, following a downwardly revised 2.1% contraction in the previous three-month period, a preliminary estimate from the Slovak Statistical Office (SÚSR) showed on Tuesday.

It was the first economic expansion after four consecutive quarters of declines amid the pandemic crisis, mainly driven by the key car industry.

On a seasonally adjusted quarterly basis, the economy shrank 1.8%, following an upwardly revised 0.8% growth in the fourth quarter of 2020. In Q1, the GDP in current prices amounted to EUR 21.7 billion, it represents inter-annual increase by 1%, said the Bratislava-based statistics agency.

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