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Slovakia's economic sentiment deteriorates in July

Slovakia's economic sentiment deteriorated in July as the three-month moving average of the economic sentiment indicator dropped 1.3 points from the revised June level to 89.4 points, the Slovak Statistics Office (ŠÚ) reported Tuesday, July 30.

Slovakia's economic sentiment deteriorated in July as the three-month moving average of the economic sentiment indicator dropped 1.3 points from the revised June level to 89.4 points, the Slovak Statistics Office (ŠÚ) reported Tuesday, July 30.

The figure largely reflects downturn of the trade confidence index and the unfavourable development in industry and services in the previous two surveys. The economic sentiment indicator remains below the levels reported in the same period a year ago by 8.3 points; and 15.9 points below the long-term average.

The construction confidence indicator continued to grow in early July. Compared with the previous month, it increased by 4.5 points to minus 47.5 points. The statistics authority attributes the development to more optimistic evaluations of current demand and expected employment. The lagging of the indicator below the long-term average shrank to 21.5 points. Confidence in trade dropped by 3.3 percentage points compared to the previous month. The confidence indicator in services increased over July by one percentage point to 3.3 points; mainly because of a more optimistic assessment of both current and expected demand.

A favourable trend of improving consumer sentiment continued in July. It was influenced by less pessimism in all items, but expected savings in particular. The consumer confidence indicator increased, compared to June, by 5.5 points to minus 20.1 points. Its current value exceeded again the long-term average after 11 months, indicating a more favourable situation than a year ago by 2.9 points.

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