Compared to the second quarter, the models of the National Bank indicate an increase in gross domestic product (GDP) of between 0.3 and 0.6 per cent in the third quarter. “The most plausible current estimate appears to be a growth of 0.3 per cent,” it states.
The National Bank points to a “largely stable” household consumption in the third quarter, while it had already shown “surprisingly resilient” behaviour in the second quarter. Business investments are expected to grow moderately again from July to September, after a decline in the previous three months.
Following a slight increase in the second quarter, government consumption is expected to remain stable in the current quarter, “against the backdrop of fiscal consolidation”. Government investments are projected to return to moderate growth after a sharp decline, supported by defence spending.
Both exports and imports are expected to increase in the third quarter. “All in all, the contribution of net exports to GDP will probably be almost neutral,” says the National Bank.
The initial translation of this content was generated by AI. All facts, context, and language have subsequently been verified and validated by a human editorial team.
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