slovakian economy still one of top performers in europe
News Posted On: 07 December 2010
According to the latest data from Eurostat, Slovakia continues to be one of the best performing economies in Europe.
While the first estimates from the third quarter have slightly revised Slovakia's growth in Q1 and Q2 downwards from the flash estimates, and also in fact from all previous reports, they still show that the economy is one of the most buoyant in Europe.
According to the figures the Slovakian economy grew 4.2% year on year in the third quarter, following the growths of 4.6% and 4.4% in the first and second quarter, which were previously reported at 5.5% and 5% respectively.
While this shows that growth is slowing, 4% is a nice steady rate of growth and if it doesn't slow further should be perfectly sustainable over the mid-long term for an emerging market like Slovakia.
Unlike the previous Eurostat reports there are now several European economies enjoying strong growth.
With a growth of 6.8% in the third quarter, Sweeden is now the fastest growing economy in Europe this year, following 2.8% growth in Q1 and 4.5% growth in Q2.
Both Estonia and Poland grew 4.7% year on year in the 3rd quarter. While Estonia has only just come out of recession, for Poland this makes it also one of Europe's fastest growing economies with the 4.7% growth following accelerating growth from 2.8% in Q1, 3.1% in Q2 and 3.8% in Q3.
Out of Europe's biggest economy only Germany can we say is now seeing its recovery really strengthen, with 3.9% growth in Q3 following the same in the previous quarter and 2.1% in Q1. We continue to see the emerging markets taking over the established ones.
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