Slo­vakia's econ­omy grows 0.6pc in 3Q

Euro­pean Com­mis­sion ex­pects Slo­vakia to be the fastest-grow­ing Eu­ro­zone econ­omy this year

The Pak Banker - - Front Page -

BRATISLAVA

Slo­vakia's econ­omy grew by 0.6 per cent in the third quar­ter from out­put in the sec­ond quar­ter which rose by 0.7 per cent, an of­fi­cial es­ti­mate showed on Thurs­day.

On a 12-month ba­sis, growth slowed down to an un­ad­justed 2.2 per cent be­tween July and Septem­ber, af­ter ex­pand­ing 2.8 per cent in April-June, the Slo­vak Sta­tis­tics Of­fice said.

The re­vised data will be pub­lished on De­cem­ber 6, statis­ti­cians said.

The Euro­pean Com­mis­sion

ex­pects Slo­vakia to be the fastest-grow­ing Eu­ro­zone econ­omy this year, with out­put at 2.6 per cent as the 17-mem­ber sin­gle-cur­rency bloc as a whole con­tracts by 0.4 per cent.

Slo­vakia's econ­omy is heav­ily de­pen­dent on car and elec­tron­ics pro­duc­tion and ex­ports, no­tably to Ger­many.

The Slo­vak fi­nance min­istry has fore­cast a 2.5-per cent ex­pan­sion this year. An ex-com­mu­nist coun­try of 5.4 mil­lion peo­ple that joined the Euro­pean Union in 2004 and the Eu­ro­zone in 2009, Slo­vakia grew by 3.3pc last year, slower than the 2010 pace of 4.2 per cent.

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