Slovenia Economic Outlook
May 31, 2022Annual growth remained at one of the highest levels in the Euro area in Q1, but largely due to a base effect. Quarter-on-quarter growth slowed due to a contraction in the export sector, which continues to be hampered by supply shocks. Turning to Q2, activity is set to weaken further. Harmonized inflation rose to the highest level since 2002 in April, stoked by the impact of the war in Ukraine on commodity prices and supply chains. This fed in to lower business and consumer confidence in Q2 so far compared to Q4, potentially depressing investment and private spending. In politics, on 14 May the Freedom Movement penned an agreement with other left-wing parties to form a coalition government, boding well for political stability. Key policy proposals include improving relations with the EU and providing handouts to households and firms to alleviate the cost of living crisis.
Slovenia Economic GrowthGDP growth should ease this year on a tougher base effect. Nonetheless, it will remain above its pre-pandemic average, supported by private spending. The boost from loosened Covid-19 restrictions should be enough to offset the drag from higher inflation. A volatile global energy market poses a strong downside risk to the growth outlook. FocusEconomics analysts project the economy to expand 4.3% in 2022, which is up 0.1 percentage points from last month’s forecast. In 2023, the economy is seen growing 2.9%.
Slovenia Economy Data
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|Bond Yield||0.30||-0.79 %||Dec 31|
|Exchange Rate||1.12||0.65 %||Dec 31|
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Slovenia Economic News
November 18, 2022
Harmonized inflation came in at 10.3% in October, down from September’s 10.6%.
November 15, 2022
GDP growth lost momentum in the third quarter, falling to 3.4% year on year from 8.3% in the second quarter.
November 10, 2022
Industrial production dropped 0.1% year on year in September (August: +4.3% yoy).
October 10, 2022
Industrial output expanded 4.8% compared to the same month of the previous year in August, which followed July's 4.1% increase.
September 30, 2022
Harmonized inflation came in at 10.6% in September, which was down from August’s 11.5%.