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Worsening economic sentiment ended in August

The downward trend of the economic sentiment in Slovakia stopped in August. Compared to the updated result for July, the three-month moving average of the indicator grew in August by 0.2 points to 89.7 points. The result, according to the Slovak Statistics Office (ŠÚ), reflected increasing confidence in services and trade.

The downward trend of the economic sentiment in Slovakia stopped in August. Compared to the updated result for July, the three-month moving average of the indicator grew in August by 0.2 points to 89.7 points. The result, according to the Slovak Statistics Office (ŠÚ), reflected increasing confidence in services and trade.

The indicator is still lower than in the same period last year – by 6.7 points – and lags behind the long-term average by 15.6 points, the SITA newswire quoted the ŠÚ. Industrial confidence indicator in August fell by 1.4 percentage points to minus 5.7 points, which is 8.7 points below the long-term average. The indicator's development was affected mostly by rising inventory of industrial products which were the highest since of January this year.

Growth in the construction confidence indicator ceased in August. Compared to the update for the previous month, this indicator fell by 0.5 points to minus 48.5 points. Its lag behind long-term average rose to 22.5 points.

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