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Investing.com -- Slovenia’s Gross Domestic Product (GDP) for the first quarter of 2025 recorded a year-on-year decline of 0.7%, marking its first negative performance since the fourth quarter of 2020.
The figure fell below the expected 2% year-on-year growth, as predicted by EBCe. The seasonally adjusted data indicates that the economy contracted by 0.8% on a quarterly basis, which also translates to a 0.8% decline on the annual level.
Delving into the detailed structure of the GDP, the development was somewhat anticipated. On the domestic demand side, private consumption managed to stay positive with a 0.4% year-on-year increase, although it offered less support than anticipated and suggested by high-frequency data.
Investment activity, however, did not show signs of a rebound. The figure remained in negative territory, with a year-on-year decline of 5.1%. Public consumption growth remained in check at 2.6% year-on-year, and inventories had a positive impact by adding 1.1 percentage points to the headline figure.
The contribution from external trade was a significant drag on the overall performance. Exports showed a marginal increase in comparison to a more vivid imports footprint, at 0.1% year-on-year and 1.9% year-on-year, respectively. This resulted in net exports reducing the headline figure by 1.4 percentage points in the first quarter of 2025.
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