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Economic sentiment up only slightly

THE ECONOMIC sentiment indicator (IES) did not change much in March compared to the previous month. It rose by only 0.1 point to 96.2 points. The result was affected by positive development of the trust in industry, construction, services and among consumers, while the trust in trade dropped compared to February.

THE ECONOMIC sentiment indicator (IES) did not change much in March compared to the previous month. It rose by only 0.1 point to 96.2 points. The result was affected by positive development of the trust in industry, construction, services and among consumers, while the trust in trade dropped compared to February.

The IES was 5.8 points higher than in March 2013, but it still lags behind its long-term average by 8.3 points, the Statistics Office (ŠÚ) informed on March 28.

The indicator of industrial confidence increased by 1.3 percentage points in March to 2 points, which is 4 points below the long-term average. The indicator was impacted by the increase in the demand of industrial products and the drop in the reserves of already made products.

The indictor in the construction sector rose to -25 points, 1 point up compared to February, as a result of better evaluation of expected employment. The actual result is the best in the last five years and is 3 points above the long-term average, the ŠÚ reported.

Regarding the confidence indicator in trade, it dropped by 5.7 percentage points month-on-month to 2.3 points in March, mostly due to the negative evaluation of the current and expected business situation and the state of reserves. The indicator in services, on the other hand, rose by 1.6 percentage points to 4.3 points. The indicator was influenced by positive evaluation of current and expected demand, though the respondents described the current business situation as negative, according to the ŠÚ.

The consumer mood in Slovakia improved in March compared to February. The consumer confidence indicator increased by 3.4 points to -14.6, as a result of a better evaluation of the supposed development of the financial situation of households, the expected economic situation in Slovakia, the predicted development of the unemployment rate and the perspective of household savings. The indicator is 15 points above its long-term average, the ŠÚ informed.

Source: Statistics Office website

Compiled by Radka Minarechová from press reports

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