A recent statistical revision has raised Slovakia's GDP growth in 2021 from 3 percent to 4.9 percent, the Financial Policy Institute has reported in a review of current economic developments, adding that in monetary terms, growth was revised upwards by about €1.6 billion. "The Slovak economy thus coped with the pandemic much better than we originally thought. Increased household consumption and investment in fixed capital contributed to the better result. Net exports and inventories also contributed positively to this," IFP noted. IFP's review was based on statistics released last week by the Statistics Office, which revised GDP growth based on corporate reports.
The Institute also pointed out that job-seekers are currently landing jobs more often that in the past three years. The likelihood that candidates will be successful is rising despite a worsening outlook for labour demand. "Candidates in western Slovakia are most likely to find a job, but candidates in Zvolen and Kosice were also relatively successful in March," IFP added.
However, the institute warned that a reduction in the number of job vacancies along with a decline in new job offers foreshadows a cooling of the labour market in the near future.
Source: TASR
