Slovenia Economic Outlook
May 5, 2020Available data suggests that the economy contracted in the first quarter, battered by the Covid-19 pandemic. Retail trade plunged at the fastest pace in over a decade in March and consumer sentiment soured, hinting at a downturn in private consumption. Moreover, dislocated supply chains and a particularly hard-hit automotive sector likely took a toll on fixed investment and exports. That said, the brunt of the crisis is likely to be felt in the second quarter as prolonged social distancing measures weigh on economic activity; business and consumer sentiment collapsed to a record low in April. Meanwhile, the government approved a second stimulus package worth EUR 2 billion (about 4.5% of GDP) on 22 April, which provides loan guarantees to businesses. Later in the month, authorities began gradually easing lockdown conditions, allowing some businesses to reopen.
Slovenia Economic GrowthThe export-oriented economy is set to contract this year as Covid-19 takes its toll. Capital spending will likely decline amid deteriorating sentiment and heightened uncertainties in the all-important automotive sector. In addition, exports are likely to slump on muted European demand and falling tourist arrivals. FocusEconomics analysts project the economy to contract 7.4% in 2020, which is down 5.0 percentage points from last monthâ€™s forecast. In 2021, the see it expanding 5.3%.
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
May 11, 2020
Industrial output plummeted 7.6% in year-on-year and working day adjusted terms in March, contrasting February's 2.4% increase.
April 30, 2020
Consumer prices fell 0.9% over the previous month in April, after decreasing 0.8% in March.
April 10, 2020
Industrial output rose 2.4% in year-on-year and working day adjusted terms in February, which contrasted January's 0.9% decrease.
March 31, 2020
Consumer prices fell 0.8 over the previous month in March, contrasting February’s 0.7% increase.
March 17, 2020
Industrial production growth slowed to 0.3% year-on-year in January, from 1.0% in December.