Slovak Economic Growth Picks Up Pace in Fourth Quarter
The Slovak economy grew a faster- than-expected 3.4 percent in the fourth quarter from a year earlier, after a 3 percent growth in the previous three-month period, the Slovak Statistical Office said in a preliminary report.
The result compares with a median estimate of five economists for a 2.1 percent expansion. On a quarterly basis, the economy grew a seasonally adjusted 0.9 percent, the Bratislava, Slovakia-based office said on its website today. The office, which didn’t provide breakdown of growth, will release the final fourth-quarter GDP report on March 6.
The economy of the east European country is slowing as the lingering debt crisis in the euro region reduces demand for exports, the key driver of Slovakia’s growth. The Finance Ministry expects growth to slow further to 1.1 percent this year.
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