Slovenia Economic Outlook
September 29, 2020The economy entered recession in Q2 as the pandemic took its toll on activity. A contraction in domestic demand led the downfall, with household consumption and investment both collapsing, while exports also took a hit as containment measures suppressed demand abroad. Turning to Q3, industrial production showed signs of recovery as it declined at a softer rate in July, while the unemployment rate inched down in the same month, signaling a gradually improving labor market. In addition, business confidence and economic sentiment both improved significantly in July–August. However, consumer confidence deteriorated slightly in September, as households turned more pessimistic over their financial situation for the next 12 months, likely in part due to a surge in Covid-19 cases in recent weeks, which risks a snapback of restrictions.
Slovenia Economic GrowthGDP is seen shrinking markedly this year due to the fallout from the health crisis. In 2021, the economy should recover as demand both at home and abroad improves. Potential new virus flare-ups, leading to further restrictions, cloud the outlook. FocusEconomics analysts project the economy to contract 7.9% in 2020. In 2021, they see GDP expanding 5.2%, which is unchanged from last month’s forecast.
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
October 9, 2020
Industrial output decreased 1.8% in year-on-year terms in August, which was above July's 4.9% decrease.
October 8, 2020
Consumer prices dropped a seasonally-adjusted 0.39% from the previous month in September, a sharper drop then the 0.06% decline seen in August.
September 11, 2020
Industrial output declined 4.6% in year-on-year terms in July, falling at a less pronounced rate than June’s 11.3% drop.
August 31, 2020
Consumer prices fell a seasonally-adjusted 0.06% over the previous month in August, following July's 0.11% drop.
August 31, 2020
GDP shrank 13.0% on an annual basis in the second quarter, down from the first quarter’s 2.5% decline and marking the sharpest contraction on record. Household spending plunged 16.6% in Q2 (Q1: -5.8%), while fixed investment dropped 16.7% (Q1: -5.5%) in the same period.