BRATISLAVA, May 30, (WEBNOVINY)- After several months of deterioration, the economic sentiment in Slovakia improved in May. Compared with the previous month, the value of the three-month moving average of the economic sentiment indicator in May rose 1.2 points to 95.4 points. The Statistics Office ascribes the increase to more positive evaluations within services, industry, and customers. In year-over-year terms, the economic sentiment indicator grew 4.9 points, but compared with its long-term average it still lags 2.5 points behind.
The industrial confidence indicator increased by 1.6 points to 8.3 points in May. Its development was influenced by favorable evaluation of expected output in the next three months. Confidence indicator in construction did not change and remained at negative 41.5 points from April. It is 17.5 points below the long-term average. An improvement in demand was balanced out by deterioration in expected unemployment.
The confidence indicator in trade in May dropped 1.7 points after going up for two months. It continues to exceed the long-term average. The level of the indicator was unfavorably influenced mainly by more negative estimates of economic situation in the next three months and higher stock. Confidence indicator in services in the fifth month rose 9.7 points to 35 points and after more than three years overstepped the long-term average. Development of this indicator was positively influenced by all three components, but mainly the expected business situation and expected demand.
Compared with the previous month the consumer confidence improved again. The consumer confidence indicator went up from last month 5.1 points to negative 24.7 points due to decreased concerns regarding all items: the expected economic situation, estimated unemployment, expected development of the households‘ financial situation and savings. Inhabitants were more pessimistic by 4.1 points compared with the same period of last year. The sentiment lagged behind the long-term average only minimally, namely 0.6 points.
SITA
