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Economic sentiment in Slovakia reaches two-year high

The Economic Sentiment Indicator in Slovakia increased by 2.3 points month-on-month to 101.3 in May, surpassing the long-term average for the first time in 24 months, the central bank (NBS) reported on May 28. The result stemmed from the rising trust in services and retail, and among consumers. The mood of consumers improved in all segments. Consumers were somewhat pessimistic only when asked about their expectations vis-a-vis overall economic prospects, the TASR newswire quoted the NBS report. Meanwhile, the sentiment was slightly worse in industry and construction. In industry, the negative mood was driven by the expected drop in industrial production, while the indicator of trust in construction fell slightly due to negative prospects of employment. Construction output is widely expected to go up, too. The central bank expects that the growth of employment as recorded in recent months in Slovakia’s economy as a whole will somewhat decelerate in the next few months.

The Economic Sentiment Indicator in Slovakia increased by 2.3 points month-on-month to 101.3 in May, surpassing the long-term average for the first time in 24 months, the central bank (NBS) reported on May 28.

The result stemmed from the rising trust in services and retail, and among consumers. The mood of consumers improved in all segments. Consumers were somewhat pessimistic only when asked about their expectations vis-a-vis overall economic prospects, the TASR newswire quoted the NBS report.

Meanwhile, the sentiment was slightly worse in industry and construction. In industry, the negative mood was driven by the expected drop in industrial production, while the indicator of trust in construction fell slightly due to negative prospects of employment. Construction output is widely expected to go up, too. The central bank expects that the growth of employment as recorded in recent months in Slovakia’s economy as a whole will somewhat decelerate in the next few months.

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