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Confidence in Slovak economy grows for fourth consecutive month

Slovakia's Index of Economic Sentiment (IES), a measure of confidence in the country's economy, continued to grow in September for the fourth month in a row, rising by 1.8 points month-on-month to 75.1, the Slovak Statistics Office said on September 29, as reported by TASR. This means that the IES is moving away from its lowest-ever level of 66.2 points during the global economic crisis. The positive development in the indicator was mainly influenced by a significant increase in confidence in services; however, the IES was still 21.3 points lower year-on-year and down 25.3 compared to the long-term average. Confidence in industry in September fell by 3.3 points to minus 12.3 points. This was influenced by a predicted drop in industrial production in the next three months. Consumer confidence in Slovakia improved significantly in September rising by 8.4 points to minus 24.3.

Slovakia's Index of Economic Sentiment (IES), a measure of confidence in the country's economy, continued to grow in September for the fourth month in a row, rising by 1.8 points month-on-month to 75.1, the Slovak Statistics Office said on September 29, as reported by TASR. This means that the IES is moving away from its lowest-ever level of 66.2 points during the global economic crisis. The positive development in the indicator was mainly influenced by a significant increase in confidence in services; however, the IES was still 21.3 points lower year-on-year and down 25.3 compared to the long-term average.

Confidence in industry in September fell by 3.3 points to minus 12.3 points. This was influenced by a predicted drop in industrial production in the next three months. Consumer confidence in Slovakia improved significantly in September rising by 8.4 points to minus 24.3.

The confidence indicator did not change significantly in September, dropping by 0.4 points m-o-m, TASR wrote. TASR

Compiled by Zuzana Vilikovská from press reports
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