Economy grew by 1% in the first quarter

The Slovak economy grew by 1% annually in the first quarter, the statistics office ŠÚ reported. Its flash estimate was 0.9%. This is the weakest growth in two years, with growth driven by exports and business investment. On the other hand, household spending fell for the first time in two years. Households are cutting back due to high inflation, and have already spent pandemic savings. Analysts expect GDP growth of around 1-1.5% for the whole year, with the economy driven by EU funds.

(teraz.sk)