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Confidence in economy continued to fall in April

Slovakia’s indicator of economic sentiment (IES) continued to fall in April, dropping by 4.4 points month-on-month (m-o-m) to 68.8 points and bringing confidence in the Slovak economy to its lowest level since 1997, when the figures were calculated for the first time, reads a report by the Statistics Office published on April 28.

Slovakia’s indicator of economic sentiment (IES) continued to fall in April, dropping by 4.4 points month-on-month (m-o-m) to 68.8 points and bringing confidence in the Slovak economy to its lowest level since 1997, when the figures were calculated for the first time, reads a report by the Statistics Office published on April 28.

The IES fell by 30.3 points year-on-year and by 31.6 points compared to its long-time average. The indicator of trust in industry continued to fall in April, dropping by 1.3 points m-o-m to minus 23.3 points. This was influenced by a fall in demand for industrial production and by an expected continued fall in production over the next three months, the TASR newswire wrote.

The indicator of trust in the building industry was down 12.5 points m-o-m to minus 48.5. This was caused by lower demand for construction and an expected fall in employment over the next three months. The previous rapid decline in the indicator of trust in retail was halted in April, however, with the figure increasing slightly by 0.4 points to minus 22.3 points. This was influenced by a more favourable assessment of the current and expected business climate than was the case in March. The indicator of trust in services fell by 7.7 points m-o-m to minus 20. This was also influenced by the global economic crisis.

Though consumer confidence in Slovakia improved by 2.3 points in April, Slovak consumers are still much more pessimistic than they were last year, by as much as 34.6 points. TASR

Compiled by Zuzana Vilikovská from press reports
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