Tuesday, 22 September 2026
Slovakia’s market economy recorded its strongest annual expansion so far this year in July, supported by higher activity across services, construction, trade and industry. Total market production increased by 3.8% year-on-year, accelerating from 2.2% in June, according to the Statistical Office of the Slovak Republic. The composite measure covers most of the market economy by combining production indicators for industry, construction, services and trade.
Services provided most of the momentum, increasing by 8.6% year-on-year and accounting for 2.81 percentage points of the overall rise. Within the composite indicator, industrial activity increased by 1.3%, trade by 1.8% and construction by 2.6%. Compared with June, total market production edged 0.1% higher, with services and construction offsetting weaker monthly results from industry and trade.
Construction was one of the more resilient parts of the economy during the first seven months of 2026. Within the total-market-production measure, construction activity increased by 8.2% year-on-year between January and July, while services rose 5.3% and trade increased 1.3%. Industry remained the exception, declining 0.4% over the seven-month period. The figures point to an economy in which domestic construction and service activity has been providing support despite a less consistent industrial performance.
Separate construction statistics reinforce the picture of positive activity while showing that growth is not uniform across the sector. Slovak construction production reached almost €805m in July and increased 2.3% in real terms year-on-year, according to the country’s statistical office. Month-on-month production increased 1.9%, one of the strongest performances in the EU: Eurostat reported that EU construction output declined 0.3% over the same period, while Slovakia ranked behind only Belgium and Czechia for monthly growth.
The improving aggregate figures nevertheless contrast with continued weakness in residential development. Slovakia’s statistical office reported that both housing starts and completions remained at low levels during the second quarter, with subdued residential activity evident across the country’s regions. Industrial conditions are also mixed: although production has returned to annual growth, real industrial turnover increased by only 0.1% in July.
For Slovakia’s property market, the July data therefore indicate broader economic support for construction and commercial activity rather than a uniform real-estate recovery. Services are providing much of the country’s current growth, construction remains comparatively resilient and trade continues to expand, but weak housing development and uneven industrial performance show that individual property sectors are still moving at different speeds.
