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Decline in Slovak economy will stop, NBS predicts
The Slovakian economy is expected to stop declining, despite "unfavourable trends" within industry, the National Bank of Slovakia (NBS) has said.
In its latest report, the NBS explained that there are a number of indicators suggesting that future months will be more positive for the country''s economy.
After seven months of pessimistic economic indicators predicting an "intensive decline", economic sentiment stopped falling in May for the first time since October 2008 and has begun to show positive signs, the NBS said.
The increase in the indicator''s value was reflected in growing confidence among consumers and within the industrial and retail sectors, the bank added.
Additionally, the NBS explained that the weakening of the economy in the wake of the global economic crisis was due to a fall in domestic and foreign demand as well as the impact of the gas supply crisis in January.
Previous figures from the NBS predicted that Slovakia''s economy will recover during 2010, with a 2.4 per cent increase in growth anticipated during the year. 
