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Economic sentiment down in February, industry confidence up

Data from the Statistics Office show that the economic sentiment indicator in Slovakia declined one percentage point to 99.6 points on a month-on-month basis in February 2008. The Statistics Office said that behind the drop were negative developments in the retail sector, in services and among consumers. The economic sentiment indicator was 7.8 percentage points lower in a year-on-year comparison and fell 1.4 percentage points below the long-term average, the Slovak Statistics Office announced on February 28.

Data from the Statistics Office show that the economic sentiment indicator in Slovakia declined one percentage point to 99.6 points on a month-on-month basis in February 2008. The Statistics Office said that behind the drop were negative developments in the retail sector, in services and among consumers. The economic sentiment indicator was 7.8 percentage points lower in a year-on-year comparison and fell 1.4 percentage points below the long-term average, the Slovak Statistics Office announced on February 28.

The industrial confidence indicator in Slovakia rose 2.7 points to 4 percentage points during February and was one point lower than the long-term average. According to the results of an economic outlook survey in industry conducted by the Slovak Statistics Office, the rise was the result of positive expectations about the growth of production during the coming three months. The confidence indicator in construction rose 6.5 points in February to minus 4.5 percentage points and exceeded the long-term average by 17.5 points. Its growth was affected by an expected increase in the number of employees and growing demand for construction and building products.

In the retail sector, the confidence indicator dropped 2.3 percentage points to 22.7 points. However, it still exceeds the long-term average by 9.7 percentage points. SITA

Compiled by Zuzana Vilikovská from press reports

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