Production: Mining: Total for Slovak Republic
Monthly, Seasonally Adjusted
SVKPRMITO01IXOBSAM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
82.01
Year-over-Year Change
28.73%
Date Range
1/1/1992 - 10/1/2023
Summary
The 'Monthly, Seasonally Adjusted' economic trend measures retail sales in Slovakia, providing insights into consumer spending and economic activity.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
This indicator tracks the monthly volume of retail sales in Slovakia, adjusted for seasonal variations. It is a key metric used by economists and policymakers to monitor the health of the Slovak consumer economy.
Methodology
The data is collected through surveys of retail establishments and calculated by the Statistical Office of the Slovak Republic.
Historical Context
Retail sales figures are closely watched by analysts to gauge consumer confidence and predict broader economic trends.
Key Facts
- Slovakia's retail sales have grown by an average of 3.5% annually over the past decade.
- Consumer spending accounts for over 55% of Slovakia's gross domestic product.
- Retail sales are a leading indicator of economic health, often signaling changes in consumer confidence.
FAQs
Q: What does this economic trend measure?
A: The 'Monthly, Seasonally Adjusted' trend measures the monthly volume of retail sales in Slovakia, adjusted to account for seasonal variations.
Q: Why is this trend relevant for users or analysts?
A: Retail sales data is a key indicator of consumer spending and overall economic activity, making it highly relevant for economists, policymakers, and market analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retail establishments and calculated by the Statistical Office of the Slovak Republic.
Q: How is this trend used in economic policy?
A: Retail sales figures are closely monitored by central banks and government agencies to gauge consumer confidence and predict broader economic trends, informing policy decisions.
Q: Are there update delays or limitations?
A: The data is published monthly, with a typical 4-6 week delay. While comprehensive, the indicator may not fully capture all retail activity, particularly in the informal or unobserved sectors.
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Citation
U.S. Federal Reserve, Monthly, Seasonally Adjusted (SVKPRMITO01IXOBSAM), retrieved from FRED.