Ljubljana, 29 August (STA) - Slovenia's economy picked up speed in the second quarter, growing by 2.9% at an annual level, as domestic consumption continued to recover. In the first half of the year, GDP grew by 2.5% over the same period a year ago, the Statistics Office said on Friday.
Adjusted for season and working days, the EU gauge, the country's economy expanded by 1% on the first quarter and 2.8% year-on-year.
While exports remained the engine of Slovenia's economy, an important contributing factor to the third consecutive quarter of year-on-year growth - the fastest rate so far since the end of the recession - was domestic consumption.
With employment rising by 0.7% and gross capital formations surging 8%, domestic consumption was up by 1.4% overall.
Slovenian exports expanded by 5.2%, outpacing the growth of imports at 3.3% to contribute a 1.6% net positive external trade balance.