The Statistics Office confirmed the growth of the Slovak economy in the second quarter of this year at 3.3% compared to 3.1% in the first quarter. "The published structure of growth did not cause surprise, as the economy was pushed upward by recovering domestic demand, while the contribution of net exports to GDP growth fell again," said Ľubomír Koršňák, an analyst with UniCredit Bank Slovakia and the Czech Republic. With retail figures pointing to the fastest growth since 2008, household consumption growth accelerated further to 3.6% year-on-year. Household consumption supports a strong labour market too, with analysts expecting the dynamic growth of wages and employment.
Anca Dragu, Photo: SITA
