The Slovenia Times

Slovenia's GDP up 2.7% year-on-year in Q3

Nekategorizirano


Adjusted for season and working days, GDP rose 3% over the year before and 1% from the previous quarter, the Statistics Office said on Wednesday.

Household spending was strong, growing by 2.6% over the year before. Final consumption likewise expanded by 2.5%.

Manufacturing output was the single biggest driver of growth, according to the statisticians, adding 1.3 percentage points to the overall growth figure due to a 6.5% improvement of value added.

Investment spending, on the other hand, stalled, with gross fixed capital formation plunging by 3.6% over the year before on the back of a 12.4% decline in spending on construction.

The decline was somewhat offset by stronger spending on machinery and equipment, which rose 6.6%. The net outcome was a contribution to GDP of -0.4%.

Foreign trade, in recent years the main engine of growth, contributed 1.1 percentage points to overall growth rate. While export growth decelerated, import growth slowed down even more.

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