The sentiment among representative of Slovak industry improved in October again following a two-month decline and the confidence indicator in industry rose by 3 points to 2.3 points in October, according to a survey conducted among companies by Slovakia’s Statistics Office, the SITA newswire reported.
The outlook for industrial output grew 18 points from the previous month to 30 points and the indicator thus jumped 13 points above its long-term average. The expectations related to overall demand went up by 2 points to minus 16 points. Almost three-quarters of respondents thought that demand is sufficient. Respondents assume that employment will shrink in the next three months, particularly in production of coke and refined crude oil products.
Economic sentiment, on the other hand, worsened in October as the economic sentiment indicator fell, according to the Statistics Office, by 0.8 to 91.9 points in monthly terms. Sinking consumer confidence was behind this development. On an annual basis, the economic sentiment indicator firmed by 14.5 points, but it remains 6.5 points below its long-term average.
Consumer sentiment in Slovakia worsened further in October because consumers had stronger concerns over unemployment growth and a downturn of the Slovak economy. The outlook of the financial situation of households, too, contributed partly to its drop of 5.8 points to minus 28.3 points from the previous months. Compared to the same period a year it was better by 2 points.
Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.
28. Oct 2010 at 14:00