BRATISLAVA, August 28, (WEBNOVINY) — The sentiment in the Slovak industry improved over August following its worsening in July. The Statistics Office reported that the confidence indicator surged 2 percentage points to negative 4.7 points in the eighth month of 2012. The statistics authority sees behind the development of the indicator mainly the growth of demand for industrial products and the expected production increase in the following months.
The industrial production showed a growing trend in August compared with the previous month when its outlook increased by 10 to 14 points to be four points bellow the long-term average. In particular respondents in production of transport means, wood and paper and foods had positive expectations. The statistics office recorded the most considerable drop in the production of computers and electronic and optical products, machinery and equipment, textile and clothing.
Expected demand for industrial output in August returned to the June level. Compared with July it increased by four points when only respondents in the chemical industry forecast an increased demand. The share of respondents who consider the level of demand sufficient is 79 percent.
Expected development of foreign demand is similar as the outlook increased one point. An increase is expected only in supply of electricity, gas and steam and in the chemical industry. Seventy-two percent of respondents believe that the level of foreign demand is sufficient.
Expectations of the development of the industrial output for the next three months increased three points from July. Expectations concerning inventory of finished products in industry went up 3 points from July. Outlook for expected price development of industrial products increased 4 points to the zero level. Concerning employment, the outlook remained at the July level when producers of coke, refined crude-oil products, computers and electronic and optical devices expect to hire new staffers.
SITA
