Charts of the week from 20 to 24 November 2023: economic sentiment, Slovenian industrial producer prices and average gross wage per employee
The economic climate improved month-on-month in November, but the indicator continues to show a downward trend year-on-year. Compared to the previous month, confidence was higher in manufacturing, construction and among consumers, while it was lower in retail trade and in…
Slovenian Economic Mirror 7/2023: Continued slowdown of year-on-year growth in the number of persons in employment; continued, albeit slower, decline in the number of unemployed; slowdown in inflation, albeit slower than the euro area average
In Slovenia, the slowdown in economic growth is also reflected in the labour market. The year-on-year growth in the…
Charts of the week from 13 to 17 November 2023: gross domestic product, value of fiscally verified invoices, electricity consumption by consumption group and other charts
Real GDP fell in the third quarter compared to the second quarter (by 0.2%), but was higher year-on-year (by 1.1%),…
Charts of the week from 6 to 10 November 2023: number of registered unemployed persons, electricity consumption and production volume in manufacturing
The number of registered unemployed continued to fall in October, albeit at a much slower rate than at the beginning of…
Economic growth is slowing this year (1.6%), especially in the export-oriented part of the economy, growth in private consumption is also lower, while construction investment continues to increase. In the coming years, GDP growth is expected to return to slightly higher levels. Inflation will continue to weaken over the rest of the year, although less markedly than in previous months. In the absence of external shocks, the downward trend in inflation supported by monetary policy measures will continue over the next two years.
Continued moderation of growth in employment and decline in unemployment is expected until the end of this year, but the tight situation could be eased slightly by certain measures to facilitate the recruitment of foreign labour.
Given the economic slowdown in the international environment and the deterioration in competitiveness due to cost pressures, exports of goods will decline this year. Overall growth of exports will remain positive due to the increase in services exports. Imports will decline as final consumption growth slows and inventories are significantly reduced. With the gradually higher growth in foreign demand, goods exports are expected to grow again in the next two years.
The Institute of Macroeconomic Analysis and Development of the Republic of Slovenia is an independent government office.
The Institute performs the following tasks:
- it monitors and analyses current trends and development in its economic, social and environmental dimensions;
- it monitors and analyses the achieving of the development objectives of the country;
- it prepares macroeconomic forecasts and other expert groundwork that serve as the basis for budgetary planning and formulating economic policy measures;
- it analyses productivity and competitiveness as the national productivity board;
- it carries out research work.