wiiw Forecast Reports
SLOVAKIA: Second wave threatens recovery
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in: No Quick Recovery in Sight, with Coronavirus Risks Looming Large
wiiw Forecast Report No. Autumn 2020, November 2020 , pp. 113-116
The COVID-19 pandemic and a related severe lockdown hit the Slovak economy in the second quarter of 2020, when GDP contracted by 12.1% year on year. There was a rapid recovery in the automotive industry, with production and exports growing again by July. However, with the number of infections rising again since September, a sustainable recovery is in doubt. We expect GDP to drop by 7.3% in 2020, and to recover in 2021 by 4.1%.
Reference to wiiw databases: wiiw Annual Database, wiiw Monthly Database
Countries covered: Slovakia