Business News
Slovak economy grows 4.7 per cent in second quarter
Sep 2, 2010, 10:19 GMT
Bratislava - Slovakia's economy expanded by 4.7 per cent year-on-year in the second quarter of 2010, fuelled by rising exports to recovering Western Europe markets, revised data showed Thursday.
The Slovak Statistics Office revised up a notch the country's second-quarter gross domestic product (GDP) growth from an early estimate of 4.6 per cent published on August 13.
In the previous quarter, the country's economy rose by 4.8 per cent year-on-year, statisticians said.
Slovak banks emerged unscathed from the meltdown in the global financial markets, but the export-driven economy suffered in 2009 due to falling demand from its Western European markets.
As some in the eurozone showed signs of recovery, Slovakia, which switched to the euro last year and attracted foreign-owned car and electronics plants, has benefited as well.
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