Slovenia Economic Outlook
September 28, 2021The second quarter saw rapid growth, with GDP eclipsing its pre-pandemic levels. Soaring private consumption and fixed investment growth spearheaded the upturn, with public consumption and exports also contributing. A sizable expansion in imports, amid strong domestic demand, dented the overall figure somewhat. This came amid the gradual lifting of restrictions and the dropping of the state of emergency in mid-June. That said, conditions in Q3 appear less promising: Retail sales growth slowed in July and consumer and business confidence slipped throughout Q3 from their end-Q2 levels. Moreover, Covid-19 cases rose in August, with the vaccination rate below the EU average. That said, on 13 September the government said it would require people to have a negative test or proof of antibodies or vaccination to enter indoor spaces, which should spur vaccinations ahead.
Slovenia Economic GrowthThe economy is on track to expand robustly this year and in 2022, as private consumption grows strongly, supported by government stimulus and looser restrictions. EU recovery funds should provide further stimulus. That said, a weak vaccination campaign adds uncertainty to the outlook ahead. FocusEconomics analysts project the economy to expand 5.4% in 2021. In 2022, the economy is seen growing 4.1%, which is down 0.2 percentage points from last month’s forecast.
Slovenia Economy Data
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Slovenia Economic News
September 10, 2021
Industrial production growth slowed to 8.9% year-on-year in July (June: +20.3% yoy), marking the worst reading since February.
August 31, 2021
Consumer prices increased 0.09% in August over the previous month, coming in below the 0.41% rise logged in July.
August 31, 2021
GDP growth sped up to 16.3% year-on-year in the second quarter, from 1.7% in the first quarter.
August 10, 2021
Industrial production grew 18.9% year-on-year in June (May: +22.1% yoy).
July 30, 2021
Consumer prices rose 0.41% over the previous month in July, below June's 0.58% rise.