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Economic sentiment indicator plunges by 0.5 points in November

The economic sentiment indicator in Slovakia worsened again in November, falling by 0.5 points in monthly terms to 89 points and the Slovak Statistics Office (ŠÚ) attributed the fall to a more pessimistic outlook by consumers and the trade sector. The sentiment of respondents in the monthly survey is four points lower than a year ago and the indicator is nine points behind its long-term average, the SITA newswire wrote based on the ŠÚ data.

The economic sentiment indicator in Slovakia worsened again in November, falling by 0.5 points in monthly terms to 89 points and the Slovak Statistics Office (ŠÚ) attributed the fall to a more pessimistic outlook by consumers and the trade sector. The sentiment of respondents in the monthly survey is four points lower than a year ago and the indicator is nine points behind its long-term average, the SITA newswire wrote based on the ŠÚ data.

The confidence indicator in industry grew by 0.7 percentage points to zero, which is three points below its long-term average, influenced by expected production growth in the coming three months. The confidence indicator in the construction sector went up by 2 points from October to minus 35.5 points. The trade sector reported a 4.7-point decline that slipped below the long-term average for the third time this year. The confidence indicator in services resumed growth following five months of decline and was 12.3 percentage points higher than the previous month, hitting 24.3.

Consumer sentiment fell sharply in November, losing 8.3 points from the previous month to stand at minus 38.4 points. Respondents were worried about unemployment growth and a worsening economic situation in Slovakia and the consumer sentiment indicator was 16.9 points lower than the same period a year ago.

Source: SITA

Compiled by Zuzana Vilikovská from press reports
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