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Economic sentiment indicator in Slovakia improves in January

The economic sentiment indicator in Slovakia improved at the beginning of 2012 as it went up by 1.1 points month-on-month and reached the level of 90.2 points. The Statistics Office attributes the upswing to more optimistic outlooks of industrial businesses as well as consumers, the SITA newswire reported.

The economic sentiment indicator in Slovakia improved at the beginning of 2012 as it went up by 1.1 points month-on-month and reached the level of 90.2 points. The Statistics Office attributes the upswing to more optimistic outlooks of industrial businesses as well as consumers, the SITA newswire reported.

“The indicator’s growth was mainly influenced by expected growth in production during following three months as well as higher demand for industrial products,” said the representatives of the Statistics Office, as quoted by SITA.

The confidence indicator in the construction sector slumped 1.5 points from December to minus 41.5 points, as respondents were more pessimistic about expected employment and current demand.

Businesses in trade and commerce showed a four-point drop in the confidence indicator to 4.7 points, according to the Statistics Office due to a pessimistic perception of the current and future business situation. The confidence indicator in services sank 2.7 points from December to 22 points. The development of indicator was influenced by a negative assessment of the business situation and expected demand, while current demand was evaluated positively.

The slump in consumer sentiment reported at the end of last year stopped in January since the indicator of consumer confidence rose by five points month-on-month to minus 35.8 points, mostly due to less worry about the development of three items – the expected financial situation of households, prospects of households’ savings and expected economic developments in Slovakia. Nevertheless, compared to the same period last year the consumer index was 9.2 points lower.

Source: SITA

Compiled by Radka Minarechová from press reports
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