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Economic sentiment improves in Slovakia for fifth straight month

The positive trend of Slovaks’ economic sentiment continued in May as the Slovak Statistics Office reported on May 29 that its economic sentiment indicator rose by one point to 92.7 points, according to the SITA newswire.

The positive trend of Slovaks’ economic sentiment continued in May as the Slovak Statistics Office reported on May 29 that its economic sentiment indicator rose by one point to 92.7 points, according to the SITA newswire.

According to the statistics authority, the result was mainly influenced by more favourable data than in the two previous two months while noting that the indicator is still 2.8 points lower than the same month last year and it is lagging its long-term average by 4.9 points.

The industrial confidence indicator increased by 1.7 points to 3.7 points, which brought it moderately above its long-term average of three points. The confidence indicator in the construction sector in May compared to April grew by 0.5 points to minus 36 points due to a significantly more optimistic assessment of current demand. This indicator in May now lags just 11 points behind its long-term average.

The confidence indicator in trade dropped by 1.4 points to 7.3 points in May and the confidence indicator in services fell by 5.3 percentage points to 15.7 points. Consumer sentiment in May dropped 1.7 points from April to minus 22.5 points, with the Statistics Office saying this was due to worries about unemployment and households' savings possibilities, while noting that compared with the same month last year, consumer sentiment is better by 2.2 points.

Source: SITA

Compiled by Zuzana Vilikovská from press reports
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