BRATISLAVA, July 28, (WEBNOVINY) – The economic sentiment in Slovakia continued improving in July. According to data of the Statistics Office of the Slovak Republic, the economic sentiment indicator went up 1.3 points from June to 92.5 points in July. The indicator improved under the influence of higher confidence in the retail sector and in industry. In yearly terms, the economic sentiment indicator increased 22.4 percent in the seventh month but remained 5.9 points below the long-term average.
Confidence indicator in industry again grew by 3.3 points to seven points and reached the highest level from October 2007 in July. Positive development was mainly influenced by the expected growth of industrial production for the next three months and lower inventory of industrial products.
Confidence indicator in the building industry fell 7.5 points to minus 45 points and is 23 points below the long-term average. The expected decrease in expected employment over the next three months is behind the development.
Confidence indicator in the retail sector strengthened 4.3 points from June to minus 1.7 points and was on the highest level for the last seventeen months. The improvement is the result of optimistic evaluations of all its components, as well as of the current and expected business situation and the level of inventory.
Confidence indicator in the sector of services fell moderately 0.7 points to 22.3 points. Behind the decline of the indicator were negative expectations of future demand. The evaluation of the business situation remained unchanged, and the evaluation of the current demand was more optimistic than in the previous month.
The consumer atmosphere indicator again slightly deteriorated in July under the influence of increased pessimism of three items, namely projected financial development of households, unemployment outlook and the expected development of savings, the indicator dropped 0.4 points from June to negative 17.8 points in July. Consumer atmosphere in July of this year was by 14.4 points better than a year ago.
SITA
