Bloomberg News

Slovak Economic Growth Slowed in First Quarter to 3.1% on Year

May 15, 2012

Slovak economic growth slowed in the first quarter to 3.1 percent from from a year earlier as the euro region’s debt crisis damped demand.

The result compares with a 3.4 percent rise in the previous period and an average estimate by three economists in a Bloomberg survey for a 2.8 percent expansion. On a quarterly basis, gross domestic product advanced a seasonally adjusted 0.8 percent, the same pace as in the previous three months, the Slovak Statistical Office in Bratislava said on its website today.

The economy in the east European country, which adopted the euro in 2009, is slowing as the lingering debt crisis in the region cuts demand for exports. The European Commission on May 11 predicted GDP to growth 1.8 percent this year.

To contact the reporter on this story: Radoslav Tomek in Bratislava at rtomek@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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