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Confidence in Slovakia increased in services and partly in trade

Christian Fernsby |
In March compared with the value of the previous month, the three-months moving average of the economic sentiment indicator (ESI) increased by 0,1 point to 98,5.

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Confidence increased in services and partly in trade. It decreased in industry and slightly in construction and among customers.

ESI is currently lagging behind the long-term average by 5,1 points and behind the value of the corresponding period last year by 4,5 points.

In March, the confidence indicator in industry decreased by 9,4 percentage points (p. p.) to the value -5,7.

The development of the indicator was unfavourably influenced by all its components, mainly the decrease of the expected production over the next three months.

In March compared with the previous month, the confidence indicator in construction decreased by 3 points to -14,5 due to more unfavourable evaluations of the expected employment.

The current result is exceeding the long-term average by 10,5 points.

In March compared with February, confidence indicator in trade increased by 0,7 percentage points to 18 as a result of positive evaluations of the expected business activities and the stock of goods.

In March, the confidence indicator in services increased again, following the last month´s decrease, its value (7) was higher by 8,3 percentage points compared with February.

The indicator´s development was affected by positive evaluations of the business situation, as well as the demand over the last three months, while the expected demand was evaluated negatively by respondents.

Following the last month´s improvement, the consumer mood in Slovakia has deteriorated again.

In March, the seasonally adjusted indicator of consumer confidence, decreased by 2 points to -7, mainly due to consumer expectations of the rising unemployment and partly the worse expectations of the development of the financial situation of households and the overall economic situation, while the saving perspectives of households slightly improved.

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