THE ECONOMIC sentiment indicator (ESI) in Slovakia improved at the beginning of 2012, rising by 1.1 points month-on-month to the level of 90.2 points. The Statistics Office attributed the upswing to a more optimistic outlook among industrial businesses as well as consumers, the SITA newswire reported.
“The indicator’s rise was mainly influenced by forecast growth in production during the next three months as well as higher demand for industrial products,” Statistics Office representatives said, 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 this was 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, influenced by a negative assessment of the business situation and predicted demand, although current demand was evaluated positively.
The slump in consumer sentiment reported at the end of last year halted in January, with the indicator of consumer confidence rising by five points month-on-month to minus 35.8 points, mostly due to reduced worry about the development of three items: the expected financial situation of households, prospects for household savings and expected economic developments in Slovakia.
Nevertheless, compared to the same period last year the consumer index was 9.2 points lower.