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%).