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Confidence indicator for industry at second highest level this year

THE CONFIDENCE indicator for industry in Slovakia achieved its second highest level of this year at 13.3 points in October when it gained 7.3 points on the September figure.

All the components that make up the confidence figure positively influenced its development. The demand for industrial products is rising significantly; inventories of finished products are decreasing, and production over the next three months is expected to grow. The results were published in the economic outlook survey for industry that the Slovak Statistics Office released on October 27.

After two months of decline, the evaluation of the trend for industrial production development over the next three months took on an upward tendency. Almost half of all respondents, particularly those from the automotive, the wood processing, the metallurgy and metal processing industries, expect production to grow, SITA wrote.

More than three-quarters of respondents consider the current demand for their production to be sufficient and 16 percent see it as more than sufficient. These are specifically respondents from the branches of coke and refined crude oil products as well as from mining. Demand is viewed as insufficient by respondents from the textile and food processing industries.

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