Slovenia GDP Q4 2016

Slovenia

Slovenia: Economy accelerates in Q4

March 1, 2017

GDP expanded 2.6% in the fourth quarter over the same quarter of the previous year. The reading was slightly above the 2.5% increase observed in the third quarter and was mainly driven by an acceleration in domestic demand. Conversely, the external sector’s contribution to overall growth lessened in Q4.

Growth in private consumption jumped to 4.1% in Q4 (Q3: +2.1% year-on-year), which marked the highest print in nine years. Government consumption also gained steam in Q4 and expanded 2.8% on an annual basis, up from the previous quarter’s 1.7% increase. Although fixed investment improved in the last quarter of 2016, it remains largely subdued (Q4: +0.9% yoy, Q3: -2.5% yoy)

On the external side of the economy, growth in exports slowed from 5.6% in Q3 to 4.6% in Q4. Meanwhile, imports expanded 6.3%, which was above the previous quarter’s 5.0% rise. As a result, net exports were a drag on overall economic growth, subtracting from it 0.8 percentage points—the lowest contribution since December 2007.

On a quarter-on-quarter, seasonally- and working day- adjusted basis, GDP recorded a 1.2% expansion in Q4, which was above the 1.0% increase observed in Q3.

FocusEconomics Consensus Forecast panelists expect economic growth to reach 2.7% in 2017, which is up 0.1 percentage points from last month’s forecast. In 2018, the panel sees GDP growth edging down to 2.5%.


Author:, Economist

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Slovenia GDP Q4 2016 0

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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