FX.co ★ Slovakia Q1 GDP Growth Confirmed at 0.9%

In the first quarter of 2025, Slovakia experienced a year-on-year economic growth of 0.9%, aligning with preliminary forecasts and down from a 1.7% growth rate recorded in the previous quarter. This marks the slowest rate of economic expansion since the first quarter of 2023. The deceleration is attributed to a slowdown in government spending growth, which decreased to 1.2% from 2.3%, and a reduction in household consumption growth to 0.5% from 3.2%. Additionally, the contraction in gross fixed capital formation lessened slightly to -8% from -11.4%. Net trade exerted a negative influence on GDP growth as imports surged by 8.9%, outpacing the more modest export growth of 6.2%. When evaluated on a seasonally adjusted quarterly basis, Slovakia's economy expanded by 0.2% in Q1, following a 0.4% rise in the previous quarter.