Economic sentiment up again

THE ECONOMIC sentiment indicator (ESI) has continued to rise in July, with its three-month moving average increased by 2 points to 102.8. This followed on improved confidence in all sectors, except for trade. The ESI is 13.3 points higher than last year, but still lags behind its long-term average by 1.7 points.

THE ECONOMIC sentiment indicator (ESI) has continued to rise in July, with its three-month moving average increased by 2 points to 102.8. This followed on improved confidence in all sectors, except for trade. The ESI is 13.3 points higher than last year, but still lags behind its long-term average by 1.7 points.

Also the consumer confidence indicator continues to grow and with -9.9 points achieved the best value since October 2008, the Statistics Office (ŠÚ) informed on July 29.

The confidence indicator in industry increased by 7 points to 3.7 compared to previous month, which is by 1.7 points more than its long-term average and the highest value since October 2013. The indicator was affected mostly by positive expectations of growth in production for following three months and increase in demand.

The confidence indicator in construction sector rose by 4.5 points month-on-month to -34.5, mostly as a result of positive evaluation of expected employment and level of orders. The indicator, however, lagged behind its long-term average by 6.5 points.

On the other hand, the confidence indicator in trade dropped by 0.7 percentage points to 10.3 compared to June, mostly due to negative evaluation of expected business activities.

The confidence indicator in services increased by 0.7 percentage points month-on-month to 23.7 percent. It was affected by positive evaluation of business situation and current demand, while the respondents evaluated the expected demand negatively, the ŠÚ informed.

The consumer mood in Slovakia also continues improving. Compared to June, the consumer confidence indicator rose by 1.7 points to -9.9. With the relative stability of the indicator of assumed development of financial situation of households, the indicator of the expected unemployment in Slovakia recorded the highest positive month-on-month movement.

In annual terms, the indicator rose by 10.2 points and stood above its long-term average, according to ŠÚ.

Source: Statistics Office website

Compiled by Radka Minarechová from press reports

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