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Consumer sentiment improves in January

THE CONSUMER confidence indicator improved in January, rising by 5.5 points to -13.5 points compared to December 2013, according to a survey carried out by the Statistics Office (ŠÚ) in early January on 1,151 respondents aged 16 and older.

THE CONSUMER confidence indicator improved in January, rising by 5.5 points to -13.5 points compared to December 2013, according to a survey carried out by the Statistics Office (ŠÚ) in early January on 1,151 respondents aged 16 and older.

Compared to the previous quarter the indicator improved by 8.3 points, while it rose by 23.6 points compared to the previous year, thus standing above the long-term average, the ŠÚ reported on its website.

The indicator was mostly affected by the expected economic situation in Slovakia as well as predicted developments in unemployment.

In monthly terms the situation improved in 11 of 12 indicators, while the change exceeded 5 points in four indicators (current and expected development of the economic situation in Slovakia, expected unemployment, and the current financial situation of households). In one indicator (the atmosphere for savings in Slovakia) the difference compared to December 2013 was less than 1 point.

Compared to the previous quarter the situation improved in 14 of 15 indicators, while one coefficient (plans for building houses, cottages or bungalows) did not change, the ŠÚ informed.

In annual terms, improvement was also reported in 14 of 15 indicators. The expected unemployment and predicted economic development exceeded the 30-point difference, while the current economic development and current price development exceeded 20-point difference, the current and expected development of financial situation of households exceeded 10-point difference and the conditions for big purchases, perspectives for savings of households and plans of households for big purchases exceeded 5-point difference. Only the difference in the indicator for plans for building a house, cottage or bungalow was lower than 1 point compared to January 2013, ŠÚ informed.

Source: Statistics Office website

Compiled by Radka Minarechová from press reports

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