Slovenia’s Economy Falls Into a Recession as Exports Weak (original) (raw)

Slovenia’s economy slid into a recession in the last quarter of 2011 as export growth slowed amid austerity measures by governments in Europe to stem the sovereign-debt crisis.

Gross domestic product contracted 0.7 percent from the previous quarter after shrinking a revised 0.4 in the previous three months, the statistics office in Ljubljana said today on its website. GDP fell 2.8 percent in the fourth quarter from the same period in 2010 and declined 0.2 percent for all of 2011. The median estimate of Bloomberg survey of six economists as for a 0.9 percent contraction from a year earlier.