IES: Confidence in Slovak industry grew by 2 points m-o-m in December

Confidence in the Slovak economy as expressed by the Index of Economic Sentiment (IES) grew by 2 points on monthly terms to reach 94.8 points in December, the Statistics Office announced on Monday, December 27. The increase was mainly due to increased confidence in industry, retail, and the construction industry. In a y-o-y comparison, the IES grew by 12.4 points, but it is still 3.6 points below the long-term average, the TASR newswire wrote.

Confidence in the Slovak economy as expressed by the Index of Economic Sentiment (IES) grew by 2 points on monthly terms to reach 94.8 points in December, the Statistics Office announced on Monday, December 27.

The increase was mainly due to increased confidence in industry, retail, and the construction industry. In a y-o-y comparison, the IES grew by 12.4 points, but it is still 3.6 points below the long-term average, the TASR newswire wrote.

The indicator of confidence in industry rose by 8.3 points in December to 10.3 points, 7.3 points above the long-term average and the highest value since July 2007. The construction indicator grew by 0.5 points m-o-m to minus 37 points, 15 points below the long-time average.

Confidence in retail went up by 3 points on the month to 18 points in December. Meanwhile, confidence in services dropped by 0.3 points to 26. After an increase in November, consumer confidence fell again in December, with the indicator dropping by 2 points on the month to minus 23.5 points.

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