* WHAT: Slovak third quarter GDP flash estimate
* WHEN: November 12 at 9.00 a.m. (0800 GMT)
* REUTERS FORECAST: Slovakia second quarter gross domestic
product +0.6 pct q/q vs +1.2 pct in Q2 2010, +4.2 percent yr/yr
vs +4.7 percent in Q2, FY 2010 GDP +4.2 percent.
FACTORS TO WATCH:
Slovakia's economy continued to expand in the three months
to September but at a slower pace in annual and quarterly terms
than in the second quarter, due to a slower rise in foreign
demand, following a robust rise in the first half of the year.
The euro zone's poorest economy is heavily export-reliant
and its recovery remains driven mainly by an upturn in demand in
the euro area, mainly Slovakia's key business partner Germany,
which powered performance its of industrial sector.
Industrial output showed double-digit growths in the third
quarter, while foreign trade balance slipped into deficit in
July and August mainly on strong imports, analysts said.
Economists expected a relatively high government consumption
in the third quarter to provide a positive contribution to the
growth.
"Slovak economy recovery remains driven by foreign demand,
and as we expect tightening of government spending next year,
the situation is still fragile, from my point of view," said ING
Bank senior analyst Eduard Hagara.
Bratislava will deliver one of the bloc's fastest growing
rates this year, although poor retail sales readings confirm
household consumption remains weak and market watchers saw no
easy fix to the trend.
It was expected to stay subdued next year as high jobless
rate, off its five-year highs hit in February but still one of
the EU's highest as hovering at around 12.4 percent, keeps
customers' pursestrings tightened.
The small and open central European economy, driven by
electronics and car sectors, will slow its expansion next year
on austerity measures drafted by the government of Prime
Minister Iveta Radicova, but will remain above the block's
average.
The central bank saw Slovak economy rising by 4.3 percent
this year, after a 4.7 percent fall in 2009, but slow to 3.0
percent in 2011. The finance ministry is slightly more
optimistic, predicting a 3.3 percent rise for the next year.
Analysts saw economy growing by 4.2 percent this year.
- The Statistics Office will publish final Q3/2010 GDP data
on December 2.
For GDP estimates table .................. []
The Slovak Statistics bureau website ..... www.statistics.sk
All Slovak economic data: <ECONALLSK>
Central and Eastern Europe market report: []
(Reporting by Martin Santa; Editing by Ron Askew)
