日本語
Español
中文
Русский 
Français
- New York 09:45
- London 13:45
- Barcelona 14:45
- Tokyo 22:45
- Sydney 00:45
- RATES & CHARTS
- NEWS
- FUNDAMENTAL
- TECHNICAL
- TOOLS
- METATRADER
- LIVE
- EDUCATION
- FORUM
- SERVICES
- BROKERS & FDMs
- Premium
Slovakia: Recovery continued in 3Q09 (+1.6% q/q)
Fri, Nov 13 2009, 10:19 GMT
by Mária Valachyová
Erste Bank der oesterreichischen Sparkassen AG | View company's profile
- According to the flash estimate of the Statistical Office, real GDP increased by seasonally adjusted 1.6% q/q in 3Q09, following a downwardly revised increase by 1% in 2Q09 (previously reported at +2.2%).
- An annual decline in GDP narrowed from -5.3% to -4.9% in line with our forecast and slightly above market expectations (average: -5.3%).
- The GDP structure will be released only on December 3rd; nevertheless, we ascribe quarterly improvement to industry, where production increased by strong 9% q/q in 3Q09. Economic increase is related to the ongoing recovery at the key export markets (Germany +0.7% q/q, the Czech Republic +0.8% q/q in 3Q09 according to preliminary releases). The recovery in 2Q and 3Q 2009 was relatively steep and was largely affected by fiscal stimuli such as scrap subsidy. As the fiscal impulses across Euro area fade, we expect the quarterly growth rates to slow down in coming quarters (but stay positive).
- Annual GDP changes will depend on revisions of the Statistical Office (to be released on December 3rd). Without taking possible revisions into account, we expect similar annual GDP decline in the last quarter as was seen in 3Q09. That would imply full-year GDP decline by 5.2% in 2009. Next year, we expect mild recovery and GDP growth at 2.6%. Recovery at job market will follow with a few quarters lag; we expect the unemployment rate to peak in 1Q10.
Published on Fri, Nov 13 2009, 10:21 GMT
Legal disclaimer and risk disclosure
This document is intended as an additional information source, aimed towards our customers. It is based on the best resources available to the authors at press time. The information and data sources utilised are deemed reliable, however, Erste Bank Sparkassen (CR) and affiliates do not take any responsibility for accuracy nor completeness of the information contained herein. This document is neither an offer nor an invitation to buy or sell any securities.
Related reports
Swiss Central Bank surprises market by eToro
Fri, Mar 19 2010, 09:58 GMT
Greek uncertainty unsettles the euro by World First UK Ltd
Fri, Mar 19 2010, 08:50 GMT
Muted start for metals, palladium poised by The Bullion Desk
Fri, Mar 19 2010, 08:41 GMT
Implications of a Chinese revaluation by Danske Bank A/S
Fri, Mar 19 2010, 08:29 GMT
Euro to fight an uphill battle as poltical bickering on Greece rescue plan continues by KBC Bank
Fri, Mar 19 2010, 08:17 GMT
Related content
Forex: USD/CAD hits 20-month high below 1.0070 after retail sales
FXstreet.com | Fri, Mar 19 2010, 12:40 GMT
Canadian retail sales exceed forecasts
FXstreet.com | Fri, Mar 19 2010, 12:38 GMT
Canada Retail Sales increase 0.7% in Jan, ex Autos rise 1.8%
FXstreet.com | Fri, Mar 19 2010, 12:30 GMT
European Morning Wrap: Busy, interesting, morning session
Forex Live | Fri, Mar 19 2010, 11:51 GMT
Forex: USD/CAD plunges to 1.0100 after higher than expected Core CPI
FXstreet.com | Fri, Mar 19 2010, 11:17 GMT
Interested in forex trading? forex brokerage firms!
GET CASH BACK FOR YOUR TRADES! Learn more about the Pip Rebate Program
Trading foreign exchange on margin carries a high level of risk and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.
Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. FXstreet.com has not verified the accuracy or basis-in-fact of any claim or statement made by any independent author: errors and Omissions may occur.
Any opinions, news, research, analyses, prices or other information contained on this website, by FXstreet.com, its employees, partners or contributors, is provided as general market commentary and does not constitute investment advice. FXstreet.com will not accept liability for any loss or damage, including without limitation to, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
©2010 "FXstreet.com. The Forex Market" All Rights Reserved.