Slovenia: GDP growth picks up in the second quarter
GDP growth improved to 1.4% year on year in the second quarter from 0.8% in Q1. On a seasonally adjusted quarter-on-quarter basis, economic growth gained traction, rising to 1.4% in Q2 from the previous period’s 0.7% increase. Q2’s reading marked the best result since Q4 2021.
Government spending bounced back, growing 2.5% in Q2 (Q1: -2.1% yoy). Meanwhile, fixed investment growth softened to 9.3% in Q2 from 10.2% in the prior quarter. Private consumption plunged at the steepest rate in over two years, contracting 1.1% in the second quarter (Q1: +3.0% yoy).
Exports of goods and services worsened, contracting 0.7% in Q2 (Q1: +2.0% yoy). In addition, imports of goods and services fell at a more pronounced rate of 8.3% in Q2 (Q1: -2.5% yoy), marking the worst performance in over two years.