Slovakia's GDP annual growth was confirmed at 1.3 percent in the third quarter of 2019, after a 2.2 percent expansion in the previous three-month period. That was the weakest growth rate since the second quarter of 2013, due to a slowdown in household consumption (1.8 percent vs 2.7 percent) and government spending (3.7 percent vs 5.0 percent). In addition, net external demand contributed negatively to GDP growth as exports fell 0.2 percent (vs -0.9 percent in Q2) while imports rose 3.3 percent (vs 1.5 percent in Q2). On the other hand, fixed investment jumped 7.8 percent, compared to 2.4 percent in the second quarter. On a seasonally adjusted quarter-on-quarter basis, the economy advanced by 0.4 percent, compared to 0.3 percent in the previous period. GDP Annual Growth Rate in Slovakia averaged 3.91 percent from 1996 until 2019, reaching an all time high of 13.50 percent in the fourth quarter of 2007 and a record low of -6 percent in the second quarter of 2009. source: Statistical Office of the Slovak Republic
GDP Annual Growth Rate in Slovakia is expected to be 2.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Slovakia to stand at 2.40 in 12 months time. In the long-term, the Slovakia GDP Annual Growth Rate is projected to trend around 2.70 percent in 2020, according to our econometric models.