Charts of the week from 13 to 17 March 2023: activity in construction, number of persons in employment, current account of the balance of payments and other charts
Construction activity continued to increase in January and was 27% higher year-on-year, with the construction of residential buildings in particular standing out compared to previous years. The construction sector recorded strong year-on-year growth in the number of persons in...
Charts of the week from 6 to 10 March 2023: trade in goods, production volume in manufacturing, value of fiscally verified invoices and other charts
Exports to EU Member States continued to decline at the beginning of the year, while imports remained roughly unchanged...
Spring Forecast of Economic Trends 2023: Economic growth will weaken significantly this year, but will still be higher than expected in the autumn; inflation is gradually easing, but will remain relatively high in the first few months of this year
In autumn, uncertainty about energy supply and prices started to recede and the outlook for economic growth in...
Charts of the week from 27 February to 3 March 2023: consumer prices, natural gas consumption, electricity consumption and other charts
Year-on-year, consumer prices grew by 9.3% in February, which is the lowest growth in nine months. The slower growth was...
National productivity board
IMAD analyses productivity and competitiveness as the national productivity board
GDP and prices
Economic growth is expected to slow significantly this year (1.8 %), but will still be higher than expected in the Autumn Forecast (1.4 %). We expect investment growth to remain moderate, supported by public and EU funds, while private consumption and exports will show weak growth before picking up in the second half of the year. We expect inflation to moderate gradually this year, but to remain relatively high on average. In the absence of external shocks, the downward trend in inflation supported by monetary policy measures will continue next year.
Employment growth and the decline in unemployment will continue to weaken this year, more markedly in the first half of the year. However, severe labour shortages will not allow for stronger employment growth in the next two years. Real growth in the average gross wage will be positive again this year (1.1%) and will strengthen in the next few years.
Growth in international trade will slow this year in line with the slowdown in economic growth in our main trading partners and continued cost pressures, which have been easing in the international environment. Growth in goods exports will be significantly lower than last year. After a strong recovery from the epidemic, we expect a slowdown in services trade growth, especially in tourism-related segments. Growth in imports of goods will weaken more than that of exports this year, mainly due to a sharper slowdown in domestic (especially private) consumption.
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.