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Economic sentiment indicator in Slovakia rises 0.3 points in February

The Index of Economic Sentiment (IES) in Slovakia improved by 0.3 percentage points in February 2011 to reach 97.4, the country's Statistics Office said on February 28, the TASR newswire reported. The IES was particularly influenced positively by higher consumer confidence. The Index grew by 10.3 points year-on-year, but is still 0.5 points below the long-term average, the Statistics Office said while the indicator of confidence in industry fell by 4.7 points in February due to negative assessments of demand and by increased stocks. The indicator of confidence in construction deteriorated by 1 point month-on-month in February to minus 40.5, falling below the long-term average by 16.5 points. It was affected by an expected further drop in employment in the next three months. The indicator of confidence in retail fell by 12 points in February to 6.7, matching the long-term average. The indicator of confidence in services dropped by 1.3 points month-on-month to 25.0 due to a negative assessment of expected demand while the overall business situation and current demand were assessed more positively by the respondents, TASR wrote.

The Index of Economic Sentiment (IES) in Slovakia improved by 0.3 percentage points in February 2011 to reach 97.4, the country's Statistics Office said on February 28, the TASR newswire reported.

The IES was particularly influenced positively by higher consumer confidence. The Index grew by 10.3 points year-on-year, but is still 0.5 points below the long-term average, the Statistics Office said while the indicator of confidence in industry fell by 4.7 points in February due to negative assessments of demand and by increased stocks.

The indicator of confidence in construction deteriorated by 1 point month-on-month in February to minus 40.5, falling below the long-term average by 16.5 points. It was affected by an expected further drop in employment in the next three months. The indicator of confidence in retail fell by 12 points in February to 6.7, matching the long-term average.

The indicator of confidence in services dropped by 1.3 points month-on-month to 25.0 due to a negative assessment of expected demand while the overall business situation and current demand were assessed more positively by the respondents, TASR wrote.

Consumer confidence did not change significantly, with its indicator growing by 0.5 points month-on-month to minus 26.8, especially due to better assessments of the expected financial situation in households. Nevertheless, compared to the same period last year people were more pessimistic, by 6.1 points.

Source: TASR

Compiled by Zuzana Vilikovská from press reports
The Slovak Spectator cannot vouch for the accuracy of the information presented in its Flash News postings.

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