May 19, 2023
Slovakia’s economic development slowed significantly in the three months to March, according to preliminary statistics from the Slovak Statistical Office.
GDP increased by 0.9 percent year on year in the first quarter, following a 1.2 percent increase in the fourth quarter. Nonetheless, this was the ninth expansion in a row.
According to the agency, overall growth in the first quarter was primarily underpinned by a trade surplus and rising investment demand.
GDP increased at a somewhat slower rate of 0.2 percent each quarter, compared to a 0.3 percent increase in the fourth quarter of 2022.
In the March quarter, employment fell 0.1 percent sequentially despite rising 0.7 percent annually, according to data.
Source: RTT NEWS
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