BUSINESS SHORTS

Economic sentiment down in December

The Statistics Office data show the economic sentiment indicator in Slovakia going down by 1.8 points to 101.1 points on a month-on-month basis in December of this year. The Statistics Office said the fall was caused by the negative development of the indicator in industry, construction and with services. The economic sentiment indicator was 7.1 percentage points lower in a year-on-year comparison and exceeded the long-term average by 0.6 percentage points, the Slovak Statistics Office was cited as saying by the SITA newswire.

The Statistics Office data show the economic sentiment indicator in Slovakia going down by 1.8 points to 101.1 points on a month-on-month basis in December of this year. The Statistics Office said the fall was caused by the negative development of the indicator in industry, construction and with services. The economic sentiment indicator was 7.1 percentage points lower in a year-on-year comparison and exceeded the long-term average by 0.6 percentage points, the Slovak Statistics Office was cited as saying by the SITA newswire.

The confidence indicator in industry in Slovakia continued decreasing in December. According to the results of an economic outlook survey in industry conducted by the Slovak Statistics Office, in December it dropped 2.7 points to 4 percentage points from November. The confidence indicator in industry thus fell one point below the long-term average and reached its lowest level since February 2006. Its development was the result of negative expectations of the development of production for the following three months and a moderate drop in demand.

The Hospodárske Noviny daily wrote that although the outcome of the survey indicates the leadership of Slovak companies may be losing confidence in the economy, the companies themselves are not officially confirming this.

Compiled by Spectator staff from press reports

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