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Slovenia Consumer Confidence Falls In February Over Unemployment Fears

Published on Feb 21 2019 11:00 AM in Retail tagged: Trending Posts / Slovenia / Consumer Confidence / February

Slovenia Consumer Confidence Falls In February Over Unemployment Fears

Pessimism among Slovenian consumers increased in February, mainly due to their expectation that unemployment will increase as the economic situation in the country worsens, the statistics office said on Wednesday.

Consumer confidence index reached minus 5 points versus minus 3 a month before, and was 5 points lower than a year ago.

Confidence decreased for the first time since September, when it reached an 18-month low with minus 9 points.

Financial Position Of Households

"Consumers were also more pessimistic regarding the expected financial position of their households," the office said.

Earlier in February the European Commission cut its 2019 GDP growth forecast for Slovenia to 3.1% from 3.3%. Slovenia's economy expanded by some 4.4% in 2018.

The government's macroeconomic institute UMAR is next month also expected to reduce its GDP growth forecast for this year from the 3.7% it forecast in September, mainly due to expected lower growth of exports and investments amid economic slowdown of Slovenia's main trading partners, such as Germany and Italy.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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