Strong Q3 for Slovenia’s GDP

By , 30 Nov 2017, 19:03 PM Business
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Exports, household spending and business optimism up. 

November 30, 2017

A report authored by Hrvoje Stojic for the Addiko Economic Research Department, part of Addiko Bank, noted that Slovenia’s GDP rose by 4.9% year-on-year and 1.0% quarter-on-quarter for the three months July–September, using seasonally adjusted figures. The biggest driver of this was net trade, up 2.4% which benefited from faster growth in the Eurozone, thus pulling up Slovene exports, which account for more than 60% of the country’s production. This was followed by household consumption, up by 1.9%, which Addiko reported was motivated by lower unemployment figures, at 6.3%, and higher disposable incomes, along with more tourist spending, although also by more retail credit, cheaper debt servicing and higher housing prices.

Investment also grew in Q3, fueled by greater optimism among managers and investors after strong corporate earnings, higher exports and more opportunities to gain EU funding.

Overall, Addiko predicts that growth will slow in 2018, although with Slovenia still growing faster than the Eurozone in general. For more details of the organisation’s predictions for the year ahead, read the full summary in PDF form here. And if you want to dive deeper into the figures, then SeeNews has a good analysis here.

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