Economic sentiment rose slightly in September

THE ECONOMIC sentiment indicator (ESI) changed little in September. Compared to the previous month its three-month moving average rose by 0.2 points to 103.1 points. The positive development of confidence in construction was cancelled out by the negative development among consumers and in services.

THE ECONOMIC sentiment indicator (ESI) changed little in September. Compared to the previous month its three-month moving average rose by 0.2 points to 103.1 points. The positive development of confidence in construction was cancelled out by the negative development among consumers and in services.

The ESI was 11.9 points higher than in the corresponding period last year and it lagged behind the long-term average by only 1.4 points, the Statistics Office (ŠÚ) informed on September 29.

The confidence indicator in industry in September increased by 0.7 percentage points to 5 percentage points compared to August. This was the highest value since May 2011. The development of the indicator was positively affected mostly by the decrease in finished goods stock.

The confidence indicator in construction increased by 6.5 points month-on-month to -19.5 points in September as a result of more favourable evaluations of the level of order books. The current result is the best in the last five years and it exceeds the long-term average by 8.5 points, according to the ŠÚ.

The confidence indicator in trade increased in September by 0.7 percentage points m/m to 11 percentage points. This was mostly a result of positive evaluations of the current business activities.

The confidence indicator in services, however, decreased in September by 1.7 percentage points m/m to 13.3 points. This was affected by a negative evaluation of current demand, while the business situation and expected demand were evaluated more positively by respondents.

The consumer mood in Slovakia also worsened in September. Compared to August, the index of consumer confidence dropped by 5.5 points to -15.9 points, as a result of increased concerns over the rise in unemployment and a worsening economic situation. In annual terms, the index was 7.1 points higher and stood above the long-term average, the ŠÚ informed.

Source: Statistics Office website

Compiled by Radka Minarechová from press reports

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