Economic sentiment in Slovakia improving

ECONOMIC sentiment in Slovakia continued to improve in June. The three-month moving average of the economic sentiment indicator increased in June by 1.7 points to 100.7 points. Its current value exceeds the level of the same period of last year by 10 points, but it still lags behind the long-term average by 3.8 points, the SITA newswire reported.

ECONOMIC sentiment in Slovakia continued to improve in June. The three-month moving average of the economic sentiment indicator increased in June by 1.7 points to 100.7 points. Its current value exceeds the level of the same period of last year by 10 points, but it still lags behind the long-term average by 3.8 points, the SITA newswire reported.

“This result reflected the favourable development of confidence in services, but especially the growth of indicators in the previous period,” the Statistics Office said when evaluating June’s results, as reported by SITA.

“It’s positive growth, but this result still isn’t without certain question marks,” Home Credit analyst Michal Kozub told the TASR newswire. He noted that the mood in services has improved significantly, but it has deteriorated in industry and construction.

A key factor for the overall increase was expectations in services, with the trust indicator rising by 3.3 points month-on-month to 23 points. This development was driven by positive evaluations of the business situation and expectations of demand, while current demand was evaluated in negative terms. Confidence in industry and construction fell by 5 and 8 points month-on-month, respectively. It was these two spheres that obstructed overall growth in June.

“The prospects for growth in industry over the next few months have dropped. Although this isn’t expected to be a long-term slump, it’s nonetheless a certain warning that industrial growth isn’t inexhaustible either,” said Kozub, as quoted by TASR.

The mood among Slovak consumers hasn’t changed since May.

“Their expectations for the next few months are almost identical to those in May. In the yearly comparison, however, their position is far better and more optimistic,” added Kozub.

“With relative stability of the indicator of the financial situation of households and expected unemployment in Slovakia, the indicator of perspectives of saving in households fell and in turn the indicator of the expected development of the economic situation in Slovakia increased,” said the Statistics Office, as quoted by SITA. Compared to the same period last year, consumer confidence in June increased by 14 points and exceeded the long-term average.

Source: TASR, SITA

Compiled by Michaela Terenzani from press reports.
The Slovak Spectator cannot vouch for the accuracy of the information
presented in its Flash News postings.

Top stories

The car belonged to Hyza in the past, now carried Hungarian plates.

Refugees die in a truck near Slovak border in Austria

DOZENS of refugees have lost their lives near the Slovak border today, in a van carrying the brand of a Slovak company.

Some farms in Slovakia are in danger.

Slovak milk producers to protest in Brussels

THE CURRENT crisis in milk production not only causes losses for farmers, but it may also result in some of them closing down their businesses.

The construction of the refugee camp in Berg is underway.

Minister surprised by refugee camp close to Slovak border

THE CONSTRUCTION of a refugee camp for migrants from Syria close to the Austrian-Slovak border has caught Interior Minister Robert Kaliňák by surprise, the TASR newswire learnt on August 26.

There are about 120 old industrial waste dumps in Slovakia.

Pollution from communist era remains a problem

LEAKING toxic pollution from the old chemical waste dump in Bratislava’s Vrakuňa neighbourhood has already contaminated local ground water and continues to spread. 

MOST READ ARTICLES


  1. Refugees die in a truck near Slovak border in Austria
  2. Slovakia and its shameful policy on refugees
  3. Discover natural wonders by foot
  4. Company selling land for Jaguar plant oppose fraud claims
  5. Interior Minister surprised by news of refugee camp close to Austrian border
  6. Police find lost Andy Warhol picture
  7. Pollution from communist era remains a problem
  8. Slovak grandfather receives birthday wishes from all over the world
  9. A Slovak placed online ad offers money for shooting migrants
  10. Skalica typical pastry “trdelník” is a hit in South Korea
  1. Slovakia and its shameful policy on refugees
  2. Interior Minister surprised by news of refugee camp close to Austrian border
  3. Refugees die in a truck near Slovak border in Austria
  4. Crooks may land €2 million in land deals for Jaguar Land Rover
  5. Slovak man's story part of Titanic exhibition in Bratislava
  6. Discover natural wonders by foot
  7. Bratislava Flagship Restaurant
  8. A Slovak placed online ad offers money for shooting migrants
  9. Company selling land for Jaguar plant oppose fraud claims
  10. People will protest against refugees again
  1. Slovakia and its shameful policy on refugees
  2. Slovakia set to get Land Rover plant
  3. A Slovak placed online ad offers money for shooting migrants
  4. Interior Minister surprised by news of refugee camp close to Austrian border
  5. Refugees die in a truck near Slovak border in Austria
  6. Abolishing milk quotas causes problems
  7. Climate change also threatens Slovakia
  8. Foreign media are reporting on Slovakia’s stance towards Muslim immigrants
  9. Use “women’s power” to tackle talent shortage
  10. Discover natural wonders by foot