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Index of economic sentiment down 1.8 points in July

The Index of Economic Sentiment (IES) fell by 1.8 points on a monthly basis to 90.1 points in July, the Slovak Statistics Office (ŠÚ) announced on Monday, July 30. The developments were due to negative trends in all areas assessed but the retail sector. The index was 4 points lower year-on-year, while lagging behind the long-term average by 7.5 points, the TASR newswire quoted the ŠÚ.

The Index of Economic Sentiment (IES) fell by 1.8 points on a monthly basis to 90.1 points in July, the Slovak Statistics Office (ŠÚ) announced on Monday, July 30. The developments were due to negative trends in all areas assessed but the retail sector. The index was 4 points lower year-on-year, while lagging behind the long-term average by 7.5 points, the TASR newswire quoted the ŠÚ.

In a breakdown of the figures, the indicator of trust in industry fell by 8.3 points month-to-month to minus 6 points, which is 8.9 points below the long-term average. This was due to an expected drop in production over the next three months and a fall in demand for industrial products. Confidence in the construction industry shrank by 0.5 points when compared to June to reach minus 38 points. Meanwhile, confidence in retail stood at 6 points, thereby swelling by 4.3 points on a monthly basis in July. This was largely due to optimistic evaluations of the business environment. At the same time, consumer trust changed little in July, as it dropped by 0.4 points to minus 23 points in July on a monthly basis. It was 1.1 percent lower in an annual comparison.

(Source: TASR)
Compiled by Zuzana Vilikovská from press reports
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