Economic sentiment improved in Slovakia again in April

The mood in the Slovak economy improved again in April. The economic sentiment indicator gained 2.2 points month-on-month to 92.6 points, based on data from the Slovak Statistics Office (ŠÚ) reported on Tuesday, April 30.

The mood in the Slovak economy improved again in April. The economic sentiment indicator gained 2.2 points month-on-month to 92.6 points, based on data from the Slovak Statistics Office (ŠÚ) reported on Tuesday, April 30.

The authority says, as quoted by the SITA newswire, that positive developments in the previous period and slight increases in industrial confidence and the service sector confidence in the latest survey contributed to the result. However, the indicator still lags behind the levels posted in the same period of last year by 6.9 points and is 12.7 points below the long-term average.

The industrial confidence indicator went up by 1 percentage point to 1 point in April. It was influenced by anticipated increased demand for industrial products and a slight upturn in output expected in the next three months. The confidence indicator in the building sector plummeted by 2 points to minus 54 points after a three-month rise because the surveyed entities were more pessimistic about current demand as well as the projected employment. In April, the indicator lagged behind its long-term median by 28 points.

The trade confidence index slipped by 1.7 points from the March level to 2.3 points due to more pessimistic outlooks of the business situation in the next three months. Service sector confidence improved 0.7 points on the previous month to 9 points. The indicator was positively influenced by optimistic assessments of current and expected demand. Respondents evaluated the business situation more negatively. Consumer sentiment did not change much compared with March: the consumer confidence indicator fell by 0.4 points in monthly terms to minus 30 points. It is 9.2 points behind the figures reported a year ago and also lags behind the long-term average.

Source: SITA

Compiled by Zuzana Vilikovská from press reports
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