Statistics Office: Economic sentiment unchanged in December

THE INDEX of Economic Sentiment (IES) stayed put in December 2014, with favourable month-on-month developments in trade and among consumers toned down by less favourable developments in industry and services, the Slovak Statistics Office (ŠÚ) reported on December 29. The index is currently 7.4 points above the figure recorded during the same period last year and is 1.7 points below the long-term average. The indicator of trust in industry fell 5.6 p.p. month-on-month to 1.7 and was slightly below the long-term average, the TASR newswire quoted the ŠÚ. The drop of the indicator was caused by unfavourable developments of all its three components: growth of industrial products reserves, drops in the overall level of orders and the anticipated decrease in industrial production over next three months. Meanwhile, the indicator of confidence in construction remained unchanged on from November, with more favourable evaluations of the volume of orders being cancelled by less favourable expectations with respect to employment figures. The current level of 11.5 points exceeds the long-term average.

THE INDEX of Economic Sentiment (IES) stayed put in December 2014, with favourable month-on-month developments in trade and among consumers toned down by less favourable developments in industry and services, the Slovak Statistics Office (ŠÚ) reported on December 29.

The index is currently 7.4 points above the figure recorded during the same period last year and is 1.7 points below the long-term average. The indicator of trust in industry fell 5.6 p.p. month-on-month to 1.7 and was slightly below the long-term average, the TASR newswire quoted the ŠÚ. The drop of the indicator was caused by unfavourable developments of all its three components: growth of industrial products reserves, drops in the overall level of orders and the anticipated decrease in industrial production over next three months.

Meanwhile, the indicator of confidence in construction remained unchanged on from November, with more favourable evaluations of the volume of orders being cancelled by less favourable expectations with respect to employment figures. The current level of 11.5 points exceeds the long-term average.

The indicator of trust in trade went up 4 p.p. on a monthly basis in December. This was thanks to positive assessment concerning expected business activities. Conversely, the indicator of confidence in services dropped 8 p.p. month-on-month to 13 points, which was due to negative evaluations of all three components of the indicator.

The mood among consumers continued to improve in December, with the respective indicator posting a rise of 2.9 points month-on-month to -10.4. This was thanks to favourable evaluations of all components of the indicator: the prospects of household savings, the expected development in unemployment in Slovakia, the predicted development in the financial situation of households and the anticipated developments in the economic situation in the country. In addition, when compared with the same period last year, the indicator was up 8.6 points in December, also exceeding the long-term average.

A regular survey confirmed the value of three-month moving average at 102.8 points, the SITA newswire wrote.

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