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The autumn GDP revision showed a lower performance of the Slovak economy in first half of 2023, growth for the first quarter was revised to 0.5%
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The autumn GDP revision showed a lower performance of the Slovak economy in first half of 2023, growth for the first quarter was revised to 0.5%

Last update: 27.07.2024 | Number of views: 1514
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Publisher: Statistical Office of the SR
Topic: Macroeconomic statistics
Domain: National accounts
Publish Date: 27.10.2023

In accordance with the national policy of revisions, the Statistical Office of the Slovak Republic carried out this year's second revision of the data in the system of national accounts, which refined the quarterly data and annual on the gross domestic product (GDP) and its components for the years 2019 to 2022 and the first half of 2023. Revised yearly data were released on Friday, 20 October 2023.

The impact of the revision in individual quarters represents changes in the year-on-year GDP development from -0.5 percentage point (pp) to +0.2 pp.

The autumn revision of GDP adjusted the values of economic growth most significantly in first half of 2023, reducing GDP growth for the first quarter from the original 1% to 0.5%. GDP growth increased slightly in the three quarters of 2022, increasing the economic growth for 2022 at 1.8% of GDP at constant prices (the 1.7% growth was originally published). The growth result for 2021 was slightly lower, at the level of 4.8% compared to the originally published growth of 4.9%. The development of the economy in individual quarters for the years 2019 and 2020 remained unchanged.

The revised quarterly data was published by the Statistical Office of the SR in data cubes in the DATAcube. database, namely in chapter 2.1. - National accounts. More detailed information is published in Methodological annotations – quarterly accounts.

Revision of data in the system of national accounts is realized regularly twice a year (in April and October). Current changes were carried out in accordance with the Calendar of revisions for the year 2023.

 

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