Bank of Slovenia: First data already indicate a sharp decline in economic activity

First economic indicators confirm that the economic situation on the transition to the second quarter in the euro area is rapidly exacerbating due to the coronavirus pandemic. The situation is similar in Slovenia, where a drop in the expected demand of companies and the start of exacerbation in the labour market are noted, the Bank of Slovenia estimates.

Compared to the economic shock of 2008 and 2009, the nature of the disease prevention measures will make the situation worse especially in a number of service sectors, as already indicated by survey estimates of future corporate demand. With the pandemic rapidly spreading, economic trends estimates have been declining rapidly in recent weeks.

Slovenia entered this crisis with good macroeconomic indicators, with both the corporate and financial sectors being in a better position.

 

Source: STA

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