BRATISLAVA, October 28, (WEBNOVINY) — Sentiment in the Slovak industry slightly improved over October. According to results of an economic outlook survey of the Statistics Office, the confidence indicator in industry rose one point to 0.7 points. “The development of the indicator was influenced by the expected increase in production in the following three months,” informed the Statistics Office.
In October, a downward trend in expected industrial production was recorded compared with the previous month, as the balance fell 12 points to negative 8 points. Its value is 22 points below the long-term average and lowest since July 2009. In particular producers in the chemical industry and in production of computers, electronic and optical devices negatively affected the development, the statisticians add. Growth was reported in water supply and production of electrical equipment and food production.
Expectations of the aggregate demand for industrial production fell 2 points to minus 21 points in the tenth month, which is 8 points below the long-term average. More than three in four respondents find demand sufficient, or more than sufficient. Negative trend was recorded mainly with production of metals and metal products, chemical industry, and in production of computers, electronic and optical devices. No sector expects demand to grow.
Expectations of foreign demand did not change from the previous month. No branch but electricity, gas and water producers expects growth. Respondents expect to see weaker production of metals and metal products, in chemical industry and in production of machinery and equipment. The share of respondents that consider the volume of foreign demand sufficient is 73 percent.
Expectations concerning inventory of finished products remained at the September level. As much as 87 percent of respondents regard its volume appropriate.
Prices of industrial products are expected to grow in the next three moths, as the indicator rose from 0 to 5 points. Employment outlook is positive, too, when it went up 8 points to 9 points. In particular producers of coke and refined petroleum products, transportation means and machinery and equipment anticipate increase in staffers.
SITA
