Slovenia GDP grows the least in 4 years


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Slovenia’s GDP expanded 2.3% year-on-year in the third quarter, easing from a 2.5% advance in the previous period, figures released by Statistics Bureau of Slovenia (SURS) show. It was the weakest pace of expansion since the third quarter 2015. 

Gross fixed capital formation slowed (1.2% vs 6.9% in Q2) and net trade contributed negatively, as exports rose 4.5% (vs 5%) while imports jumped at a faster 6.7% (vs 4.9%). On the other hand, both household consumption (4.3% vs 3.8%) and government expenditure (1.8% vs 1.0%) advanced faster.

On a seasonally adjusted quarterly basis, the country’s economy rebounded 0.8%, after showing no growth in Q2.

Slovenia’s consumer prices rose by 1.4% y.o.y. in November, after growing by the same annual pace in October, SURS said in a separate statement on Friday.

Higher food prices and higher prices of miscellaneous goods and services had the largest upward impact of 0.4 percentage points each on the annual inflation in November. On month, consumer prices edged up 0.1% in November, following a similar increase in October.

Measured by the EUʼs harmonized index of consumer prices (HICP), annual inflation decelerated to 1.4% in November, from 2.1% in November 2018.

Retail sales in Slovenia tumbled 5.4% yr/yr in October, following an upwardly revised 1.7% rise in the previous month. The decline mainly attributable to lower sales of motor fuels (-13.2%), according to a separate report. On a monthly basis, retail sales increased 0.7%, after a downwardly revised 0.4% drop in the previous month, SURS said.

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