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Economic sentiment at 3-year low

ECONOMIC sentiment in the Slovak economy continues to deteriorate. It declined for the sixth consecutive month in November 2012, when it fell to 83.7 points, a 2.4 point decline, according to Slovak Statistics Office data, as quoted by the SITA newswire.

ECONOMIC sentiment in the Slovak economy continues to deteriorate. It declined for the sixth consecutive month in November 2012, when it fell to 83.7 points, a 2.4 point decline, according to Slovak Statistics Office data, as quoted by the SITA newswire.

This is the lowest level of economic sentiment since December 2009.

The outcome was affected by falling confidence in all sectors except for consumer sentiment. The indicator remains lower than in the same period last year, by 5.3 points. Its lag behind the long-term average deepened to 13.9 points, SITA wrote.

Confidence indicators in industry fell in November by 8.4 points to minus 15.7 points, the lowest since May 2009. Development of the indicator was affected mostly by an expected decline in production in the next three months as well as lower demand for industrial products. The confidence indicator in construction fell in November to the lowest level since June 2000. Its value fell from the previous month, due to weakening demand and worsening prospects for employment, by another two points to minus 56.5 points, which is lower than the long-term average of the previous month.

The confidence indicator in trade dropped by one point to six points in November compared with October, mainly due to a more pessimistic evaluation of the development of the business situation over the past three months. The confidence indicator in services fell by 0.3 percentage points in November, when its value was 10.7 points. Development of the indicator was negatively influenced by the assessment of the business situation with a countervailing positive assessment of current and expected demand.

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