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Slovak economy records 3.1 pct Q1 growth, fastest since 2011

Xinhua, May 14, 2015 Adjust font size:

Slovakia's gross domestic product (GDP) went up 3.1 percent year-on-year in the first quarter of this year, according to a preliminary estimate released by the Slovak Statistics Office on Wednesday.

The acceleration in the growth of the Slovak economy in the first quarter of the year beat analyst expectations.

"This is the fastest annual growth since late 2011," exceeding analyst and market expectations, which were more modest and estimated growth of 2.5 percent, Slovenska Sporitelna bank analyst Katarina Muchova said.

VUB bank macroeconomist Andrej Arady said the economic growth has reached levels when jobs are added naturally as the labour market continued to grow in the first three months of the year.

"The year-on-year pace in job creation dropped, but was still retained at a decent 1.8 percent," Arady said. Endit