Recently published research from Business Monitor International, "Slovakia Autos Report Q1 2014", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 12/31/2013 -- BMI forecasts vehicle sales in Slovakia to decrease 7.7% in 2013, on the back of weakness in the passenger car and commercial vehicle (CV) segments. In 2014, we forecast a decline in total sales of 0.5% as the economy recovers somewhat.
BMI maintains a fairly bearish outlook for private consumption growth in Slovakia in 2013. Consumer spending declined throughout 2012, and we expect this to continue throughout 2013. Further, real wage growth is stagnant, and unemployment is steadily increasing on the back of ongoing fiscal austerity measures.
BMI believes that economic growth in the country will continue to slow down somewhat over the course of 2013 on the back of declining domestic demand and contractions in key export markets. Further, we expect manufacturing activity to decline further, and for business confidence to remain poor.
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