Slovenia GDP Q4 2015

Slovenia

Slovenia: Economic growth picks up in Q4

February 26, 2016

GDP expanded 3.3% in Q4 over the same quarter of the previous year, which was above the revised 2.6% increase recorded in Q3 (previously reported: +2.5% year-on-year). The result was the highest growth since Q3 2014.

Q4’s acceleration reflected a pick-up in domestic demand, while the external sector deteriorated. Private consumption edged up from Q3’s 2.5% expansion to a 2.6% increase, which marked the best result in over 7 years. Government consumption rose notably, growing 3.0% (Q3: +0.8% yoy). In addition, fixed investment rebounded from a 2.0% contraction in Q3 to a 3.4% increase in Q4.

Exports of goods and services rose 3.3% in Q4, which was down from the 5.0% increase recorded in Q3. Imports expanded 3.9% in Q4, which was slightly above the 3.7% expansion in Q3. As a result, the external sector’s net contribution to overall economic growth deteriorated from plus 1.4 percentage points in Q3 to minus 0.1 percentage points in Q4.

On a quarter-on-quarter, seasonally- and working- day adjusted basis, GDP recorded a 0.6% expansion in Q4, which was above Q3’s 0.4% increase. For the full year 2015, growth came in at 2.9% (2014: 3.1%).

FocusEconomics Consensus Forecast panelists expect the economy to increase 2.3% in 2016, which is unchanged from last month’s estimate. In 2017, the panel sees GDP expanding 2.1%.


Author: Angela Bouzanis, Senior Economist

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Slovenia GDP Q4 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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