Questions on securities

Monday - Friday 09:00-17:00

Quick guide

Choose your country

Research Detail

2023/10/06 / Ceska Sporitelna Research

EU News Monthly October 2023

In the 2nd quarter of 2023, seasonally adjusted GDP was stable in the EU compared with the previous quarter, when it had increased by 0.2%. Year-on-year, seasonally adjusted GDP increased by 0.4% in the 2nd quarter of 2023 compared to the same period of 2022.

In parliamentary elections in Slovakia, after all votes were counted, the victor was the Směr-Socialní demokracie (Směr-SD) party of former Prime Minister Robert Fico, which gained 22.94 percent of the vote. The liberal Progresivní Slovensko party came in second with 17.96 percent of the vote.

After six quarters of registering a deficit, the EU trade balance returned to a surplus in the second quarter of 2023 due to a decline in energy prices. Recent trade data show that in the second quarter of 2023, exports fell by 2.0% and imports by 3.5%, resulting in a small trade surplus of €1 billion.

Volvo is planning to double the production capacity of the electric car factory it is building in Slovakia. This would bring the capacity of the plant near Košice to half a million vehicles a year. Slovakia is already the world's largest car manufacturer per capita by population.

PDF Download Download PDF (222kB)

General information

AuthorCeska Sporitelna Research
Product nameEU News Monthly
Topic in focusFX, Macro/ Fixed income
Economy in focusCzech Republic
Currency in focusCzech Koruna
Sector in focus-


We use cookies and web analysis software to give you the best possible experience on our website. If you consent, these tools will be used. For more details please read our Data protection policy.


Any information, material and services regarding financial instruments and securities provided by Erste Group Bank AG or any of its affiliates (collectively “Erste Group“) on this and any linked website hereafter (jointly the “Websites”) shall be exclusively to investors who are not subject to any legal sale or purchase restrictions (the “Interested Party“).

The publication and distribution of information as well as offering and selling of products and services described on the Websites is prohibited by law in some jurisdictions. For this reason, persons in countries in which the publication as well as the offering and selling of products and services described on the Websites are not permitted by law, must not enter the Websites and/or acquire the products displayed on the Websites.

Neither Erste Group nor any third party shall offer access to the Websites or offer the products to especially, but not limited to citizen/residents of the United States and “U.S. person” (as defined in Regulation S under the US Securities Act 1933 as amended). For this reason, the distribution or redistribution of the information, materials and products into United States or into any other jurisdiction where it is not permitted under the applicable law, as well as to the citizens/residents of these countries shall be prohibited. The securities displayed on the Websites have not been and will not be registered under the US Securities Act of 1933 and trading in the securities has not been approved for purposes of the US Commodities Exchange Act of 1936. For this reason the securities may, inter alia, not be offered, sold or delivered within the United States or, for the account and benefit of U.S. persons.

The Interested Party is solely responsible to examine, whether he may enter the Websites under the law applicable to it. Erste Group shall not be responsible for the distribution of content of any of the Websites to individuals or entities which provide false information about their right to enter the Websites. For this reason Erste Group shall not be liable for any legal claims or damages which may result from the unauthorized entering or reading of the Websites.

By agreeing to this hereto, the Interested Party confirms that
(i) It has read, understood and accepted this Information and the Disclaimer;
(ii) It informed itself about any possible legal restriction and warrants that it is not restricted or prohibited to enter the Websites according to any law applicable; and
(iii) It does not make available the contents of the Websites to any person who is not qualified by law to enter the Websites.