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FX.co ★ Slovakia GDP Growth Eases In Q2

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typeContent_19130:::2022-08-16T11:05:00

Slovakia GDP Growth Eases In Q2

Slovakia's economic growth slowed in the three months ended June, after improving in the previous two quarters, preliminary figures from the Statistical Office of the Slovak Republic showed Tuesday.

Gross domestic product grew an unadjusted 1.7 percent year-on-year in the second quarter, slower than the previous quarter's 3.1 percent increase.

On a seasonally adjusted basis, annual GDP growth eased to 1.6 percent in the June quarter from 3.0 percent in the March quarter.

The overall growth of the Slovak economy was supported mainly by domestic demand, driven by consumer demand, while the decrease in foreign demand continued, but was lower than in the first quarter, the statistical office said.

Compared to the previous quarter, GDP expanded at a steady pace of 0.4 percent in the second quarter.

Data also showed that total employment rose by 2.4 percent in the second quarter compared to last year. After seasonal adjustments, total employment grew 2.1 percent yearly and 0.7 percent quarterly in the June quarter.

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