Spectator on facebook

Spectator on facebook

BUSINESS IN SHORT

Confidence in economy drops

SLOVAKIA’S Index of Economic Sentiment (IES) fell by 1.6 points month-on-month to 86.1 points in October, the lowest recorded figure since February 2010, the Statistics Office (ŠÚ) announced on October 29. The fall was due to drops in confidence in all monitored sectors apart from retail. The index was 3.4 points lower year-on-year and 11.5 points below the long-term average.

SLOVAKIA’S Index of Economic Sentiment (IES) fell by 1.6 points month-on-month to 86.1 points in October, the lowest recorded figure since February 2010, the Statistics Office (ŠÚ) announced on October 29. The fall was due to drops in confidence in all monitored sectors apart from retail. The index was 3.4 points lower year-on-year and 11.5 points below the long-term average.

The indicator of confidence in industry went down by 7 points month-on-month to minus 7.3 points, the lowest level since July 2011, and 13.3 points below its long-term average. This was due to an expected fall in production over the next three months, the TASR newswire reported. Confidence in the construction industry continued to shrink, falling by 9 points month-on-month to its lowest value in more than 12 years: minus 54.5 points. Weakened demand and deteriorating future prospects in employment were reported to be behind this.

Trust in retail was the only indicator to see growth in October, by 1.3 points compared to last month. Confidence in the services sector decreased by 4.3 points on a monthly basis to 10.7 points, mainly influenced by negative evaluations of forecast demand and the business environment. Consumer confidence in Slovakia also continued to contract, falling by 6.4 points month-on-month to minus 38 points in October, and by 7.9 points year-on-year.

Top stories

Kysuce highway stalled due to missing money

Money is missing to finish the section of highway between Žilina and Poland, stopping the completion of the D3 highway project.

Road-blocking protest in Povina, Kysuce, demanding completion of highway bypass - February 16.

Slovak film won Generation Kplus section at Berlinale

The film Little Harbour that won the Crystal Bear – beating movies from many other countries - is the work of (mostly) Slovak women.

Director of Little Harbour, Iveta Grófová, with the Cristal Bear

State insulation falls behind expectations, ministry widens support

Only 134 homeowners in the first round and 62 in the second applied for a subsidy via the insulation programme.

Only 134 homeowners in the first round and 62 in the second applied for a subsidy via the state insulation programme. Illustration stock photo

US philosopher with Slovak roots, Michael Novak, dies

The man who advised politicians and even presidents Gerald Ford and James Carter died on February 17, aged 83.

Michael Novak