Slovenian economic recovery gains momentum

The Slovenian central bank on Tuesday revised upward its economic growth projection for the country for 2014 for the second time, forecasting an increasingly robust recovery after two consecutive years of recession.
Slovenian gross domestic product will grow at a rate of 1.6 percent this year, instead of the 0.6 percent that the bank had forecast in the spring.
The upgrade reflects positive trends that have been developing and strengthening since the last quarter of 2013.
In April, the bank changed its forecast for the year from a 0.7-percent contraction to growth by 0.6 percent.
Strong growth in the first two quarters, by 2.1 and 2.9 percent, along with other positive figures, such as July exports surging to the highest volume since 2008, led to the new upgrade.
Also on Tuesday, the national statistical office reported a rise of consumer confidence reaching a six-year high, dpa quoted the STA news agency as saying.