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Confidence in Slovak economy increases in May

Based on several positive trends, Slovakia’s Index of Economic Sentiment (IES) increased by 1.2 points in May to 95.4, returning it to its March level, the country’s Statistics Office announced on May 30, as reported by the TASR newswire. Improved figures in three of the IES components – services, industry and consumers – were instrumental in raising the overall confidence level in May. The index was up by 4.9 points year-on-year, but remained 3.5 points below its long-term average.

Based on several positive trends, Slovakia’s Index of Economic Sentiment (IES) increased by 1.2 points in May to 95.4, returning it to its March level, the country’s Statistics Office announced on May 30, as reported by the TASR newswire.

Improved figures in three of the IES components – services, industry and consumers – were instrumental in raising the overall confidence level in May. The index was up by 4.9 points year-on-year, but remained 3.5 points below its long-term average.

The indicator of confidence in construction remained unchanged on the month, staying at minus 41.5. There were some less optimistic expectations in employment but better results for consumer demand.

Confidence in industry increased on the month by 1.6 points to 8.3, mainly because of positive production figures that are expected to emerge over the next three months. After confidence in retail improved in April, the indicator in this sphere fell in May by 1.7 to 17 points, still above the long-term average. Confidence in services also went up in monthly terms by 9.7 points to reach 35 points in May. Consumer confidence rose by 5.1 points month-on-month to minus 24.7.

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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