Slovenia's GDP to slightly decrease in Q2 - c-bank

"The situation in industry remains challenging, and the volume of new orders continues to shrink. The movement of industrial production in the second quarter is extremely volatile, as the strong decline in April was followed by a growth correction in May," the central bank said in a statement on Wednesday.

The year-on-year nominal growth of the average gross salary remains well above the long-term average as the labour market remains tight. Companies are predominantly looking for workers abroad and they currently contribute a good 86% to the year-on-year growth in employment, the central bank said in a macroeconomic trends report.

The situation in international trade worsened at the beginning of the second quarter as a result of the negative contribution of trade in energy products and products of the metal industry, while current account balance swung to surplus this year, approaching 1.5 billion euro ($1.7 billion) in the first five months, the central bank said.

Government deficit increased in the first quarter, and the government's debt as a share of GDP decreased slightly. The higher deficit is, among other things, the result of measures to mitigate the cost of energy. They additionally moderate the growth of revenues and increase the growth of expenditures, the central bank added.

Slovenia's economy expanded by a real 0.7% year-on-year and 0.6% quarter-on-quarter in the first three months of 2023.

($ = 0.89244 euro)