Slovakia Q4 GDP Growth Unrevised At 1.8%

(RTTNews) - Slovakia's economic growth improved as initially estimated in the three months ending December, the latest data from the Statistical Office of the Slovak Republic showed on Friday.

Gross domestic product grew an unadjusted 1.8 percent year-over-year in the fourth quarter, following a 1.2 percent rise in the third quarter. That was in line with the flash data published on February 14.

The accelerated growth in the fourth quarter was mainly supported by household and government consumption. On the other hand, further acceleration in growth was hampered by the slump in investment activities.

The expenditure breakdown showed that household consumption grew 2.7 percent, and government consumption rose by 2.1 percent. Meanwhile, gross fixed capital formation declined sharply by 11.5 percent, and the balance of foreign trade at current prices remained slightly negative.

Among the sectors, it was mainly supported by moderate growth in industry and trade with transportation and tourism, the agency said.

On a quarterly basis, GDP advanced 0.5 percent versus a 0.3 percent rise in the third quarter, as estimated.

During the year 2024, GDP expanded 2.0 percent, which was the fastest in three years, compared to a 1.4 percent growth in 2023.