BRATISLAVA, December 27, (WEBNOVINY) — Economic sentiment in Slovakia in December again slightly improved. After rising in November from 91.9 points to 92.8 points, the economic sentiment index (ESI) increased by 2 points to 94.8 points in the last month of the year. „Development of the indicator was affected by an increase in confidence in industry, retail trade and construction,“ informs the Statistics Office of the Slovak Republic. In year-on-year terms, the economic sentiment indicator rose by 12.4 points, but compared with its long-term average it still lags behind by 3.6 points.
The industrial confidence indicator in December increased by 8.3 points to 10.3 points, which is 7.3 points above the long-term average and it reached its highest level since July 2007. Development of this indicator was influenced by a favorable evaluation of all three variables entering into the calculation: demand for production, inventory and production expectations for the next three months. Confidence indicator in construction compared to November increased by half a point to minus 37 points and it remains 15 points below the long-term average. Its development was primarily influenced by an expected slower decline in employment over the next three months.
Confidence indicator in trade also grew in December, and with its value of 18 points it exceeded the level of the previous month by 3 points and the long-term average by 7 points. Development of this indicator was affected by favorable assessment of the current business situation and inventories. Confidence indicator in services in December fell by 0.3 points to 26 points. The decline of this indicator was affected by negative assessment of the business situation, whereby respondents evaluated current demand positively and evaluation of expected demand remained unchanged.
After developing positively in November, consumer sentiment deteriorated again in December. Concerns over rising unemployment in Slovakia reduced but mistrust increased in the expected economic situation in Slovakia and the financial situation of households. The consumer confidence indicator decreased from last month by 2 points to negative 23.5 points. In comparison to last year was still 2.5 points stronger.
SITA
