Slovenian Economic Mirror


Slovenian Economic Mirror

Slovenian Economic Mirror 8/2021

According to some indicators, economic growth of export-oriented sectors of the economy in Slovenia moderated in the third quarter. Compared to the second quarter, trade in goods actually declined slightly, while manufacturing output growth slowed, which is related to supply chain disruptions. At the same time household consumption strengthened in the summer months, especially in tourism. In October, the value of the economic sentiment indicator deteriorated, which we attribute to uncertainty about the further development of the COVID-19 epidemic in the international environment, mainly due to supply chain disruptions. Nevertheless, most confidence indicators remain higher than a year ago. The situation on the labour market was good in October, with the increase in the number of unemployed being mainly related to the usual autumn inflow of first-time job seekers into unemployment. Consumer price inflation increased significantly in October. About two-thirds of the year-on-year inflation was due to higher prices for petroleum products and heat energy.