The Slovak economy grew 4.6 percent year-on-year in the third quarter of 2016, unrevised from a preliminary estimate and following a 4.5 percent expansion in the previous three-month period. This was the strongest growth rate since the last quarter of 2015 supported by household consumption (3.2 percent vs 2.0 percent in Q2), government spending (1.6 percent vs 0.7 percent) and net trade as exports rose 5.6 percent (vs 7.6 percent in Q2) and imports increased at a slower 5.4 percent (vs 6.6 percent in Q2). By contrast, fixed investment shrank 5.7 percent, after a 18.5 percent jump in the previous period. The quarter-on-quarter GDP growth was also confirmed at 1.1 percent. GDP Annual Growth Rate in Slovakia averaged 3.97 percent from 1996 until 2018, reaching an all time high of 13.50 percent in the fourth quarter of 2007 and a record low of -6 percent in the second quarter of 2009.
GDP Annual Growth Rate in Slovakia is expected to be 3.90 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Annual Growth Rate in Slovakia to stand at 3.80 in 12 months time. In the long-term, the Slovakia GDP Annual Growth Rate is projected to trend around 3.60 percent in 2020, according to our econometric models.