Slovakia's economic sentiment index improved for the fourth straight month in May 2013 following eight consecutive months of declines, data from the country's statistics office showed. The value of the economic sentiment's three-month running average rose by 0.5 points from April to 93.1 points in May, affected mostly by an improvement in the consumer confidence.
The consumer sentiment indicator gained 4 points to -26, reflecting a significantly reduced pessimism regarding the economic situation and unemployment, the statistics office said. However, the indicator remained below its long-term average and was by 3.5 points lower than a year ago.
The confidence indicators in construction and retail trade also registered slight improvements this month, rising by 0.5 points and 0.3 points, respectively. The construction sector confidence was affected mainly by more optimistic evaluations of the current demand. But despite the slight improvement, it was by 27.5 points below its long-term average. The moderate progress in the retail trade sector came as a result of more optimistic evaluations of the business situation over the next three months.
The confidence indicator in industry, which has the highest weight in the economic sentiment indicator, lost in May 1.7 points to -0.7, which is by 3.7 points below its long-term average. It was negatively affected by an expected decline in industrial production in the next three months.
The confidence indicator in services dropped by 7.7 points to 1.3, affected by more negative evaluations of all its components - current and expected demand, and business environment.
On an annual basis, the May economic sentiment indicator was by 7.4 points lower. It was by 12.2 points lower than the long-term average.
|May-13||Apr-13||m/m change, points|
|Economic sentiment indicator (ESI)||93.1||92.6||0.5|
|Components of ESI:|
|Industrial confidence indicator (40%)||-0.7||1.0||-1.7|
|Construction confidence indicator (5%)||-53.5||-54.0||0.5|
|Retail trade confidence indicator (5%)||3.0||2.7||0.3|
|Services confidence indicator (30%)||1.3||9.0||-7.7|
|Consumer confidence indicator (20%)||-26.0||-30.0||4.0|
|Source: Statistical Office of the Slovak Republic|
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