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BUSINESS IN SHORT

Confidence in Slovak economy rises

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 the level seen in March, the country’s Statistics Office announced on May 30, as reported by the TASR newswire.

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 the level seen in March, 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 – helped raise 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, at minus 41.5. There were some less optimistic expectations in employment but better results for consumer demand.

Confidence in industry increased in 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.


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