Economic Convergence: Slovenia Falls Back

BusinessEconomy ♦ Published: March 14, 2013; 18:12 ♦ (Vindobona)

In 2012, GDP in the euro area declined by 0.5%, as economic situation also worsened in the core countries. The gap by which Slovenia trails the euro area average further deepened.

Economic Convergence: Slovenia Falls Back / Picture: ©

Slovenia´s decline in economic activity averaged 2.3% over the year. The crisis in the private sector demand mounted in the second half of the year. Household consumption fell, while the continuing fall in investment activity further worsened the situation in the construction sector. Last year there was also a significant decline in activity in services. As a result of the crisis in…