BRATISLAVA, August 30, (WEBNOVINY) – Following two months of worsening, sentiment in the Slovak industry improved in August again. According to results of an economic outlook survey of the Statistics Office, the confidence indicator in industry grew from July’s negative 7.3 points to the positive 2.3 points, which is close to the long-term average. “The development of the indicator was influenced by the expected increase in production in the following three months and a drop in industrial product inventories, informed the Statistics Office
In August a downward trend in expected industrial production was recorded compared with the previous month, as the balance decreased 4 points to minus two points, which is 20 points below the long-term average. The development was negatively influenced by producers of electronic and optical equipment, chemical products, electricity, gas and power. Mainly producers of wooden and paper products, other non-metal products, textile, clothing leather and leather products recorded an upturn trend.
Expectations concerning aggregate demand dropped six points from July to minus 26 points. Sixty-nine percent of respondents support the opinion that the demand is sufficient, said the Statistics Office. Negative trend was recorded mainly with production of computer, electronic and optical devices, production of metals and metal produces and production of foodstuffs.
Expectations of foreign demand dropped compared with the previous month by three points. No branch expects growth. Expectations concerning inventory of finished products improved in August by 13 points to minus six points.
Outlook for industrial production in the next three months improved compared to July by 22 points to 27 points. Increased production is expected mainly in the areas of computer production, metals and metal products and transport means.
Outlook concerning prices of industrial products in the next three-month period dropped 14 points to negative seven points. Respondents expect prices to incline among producers of wooden and paper products, metals and metal constructions and foodstuffs.
Employment outlook increased one points from the previous month. Producers of transport means, machinery and equipment and computer, electronic and optical devices expect employment to grow. Producers of coke and refined petroleum products and in supplies of electricity, gas and steam expect lower employment.
SITA
