Slovenia GDP

Slovenia

Slovenia: Economic growth accelerates in Q1 2015

May 29, 2015

GDP expanded 2.9% in Q1 2015 over the same quarter of the previous year, which was above the 2.4% increase recorded in Q4 2014.

Q1’s acceleration mainly reflected a rebound in domestic demand, which more than offset a deceleration of the external sector. Private consumption rose 0.4% over the same quarter of the previous year, which contrasted the 0.8% fall tallied in Q4. Government spending decreased 0.5% in Q1, swinging from Q4’s 1.2% rise. Gross fixed investment inched up from minus 0.9% in Q4 to minus 0.8% in Q1.

Exports of goods and services rose 5.4% in Q1, which marked a deceleration over the 8.4% increase recorded in Q4. Imports expanded 5.4% in Q1, which was above the 3.3% expansion in Q4. As a result, the external sector’s net contribution to overall economic growth fell from 4.4 percentage points in Q4 to 0.6 percentage points in Q1.

On a quarter-on-quarter, seasonally- and working-day adjusted basis, GDP recorded a 0.8% expansion in Q1, which was up from the 0.3% increase observed in Q4. The reading was the highest since Q2 2014.

The Central Bank expects the economy to expand 2.2% in 2015 and 1.8% in 2016. FocusEconomics Consensus Forecast panelists expect the economy to increase 2.0% in 2015, which is up 0.2 percentage points from last month’s estimate. In 2016, the panel sees GDP expanding 2.1%.


Author:, Economist

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Slovenia GDP Q1 2015

Note: Year-on-year changes of GDP in %.
Source: Statistical Office of the Republic of Slovenia (SORS) and FocusEconomics Consensus Forecast.


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