Tuesday, November 29, 2011

Bloomberg survey, Slovenian Economic Growth Slowed in Third Quarter

World Economic outlook - Bloomberg survey, Slovenian Economic Growth Slowed in Third Quarter : Slovenia’s economic growth slowed in the third quarter as export gains failed to offset a drop in investments, a survey of economists showed.

Gross domestic product grew 0.8 percent from a year earlier, compared with 0.9 percent in the second quarter, according to the median estimate of seven economists in a Bloomberg survey. The statistics office in the capital Ljubljana will publish the report at 10:30 a.m. local time tomorrow.

“Negative impact can be expected from investments and personal consumption, while net exports will be the only positive contribution,” Bojan Ivanc, an analyst at Ljubljana- based KD Bank d.d., said in an e-mail today.

Faced with increased borrowing costs, Slovenia’s export- driven economy will probably slide into a recession, Finance Minister Franc Krizanic has said. Demand for Slovenian products in Europe is waning as the two-year-old debt crisis crimps confidence among households and companies.

Europe, where Slovenia sends about two-thirds of all exported goods, may also enter a “deep recession,” Capital Economics in London said in a report today.

GDP will expand 1 percent this year and slow to a 0.3 percent pace in 2012, the Paris-based Organization for Economic Cooperation and Development said in a report yesterday. The central bank, which in October forecast 2011 growth at 1.3 percent, said risks from Europe’s debt crisis may jeopardize the estimate.

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