Slovakia's economic sentiment index improved for the sixth month in a row in January 2014, data from the country's statistics office showed. The value of the economic sentiment's three-month running average rose to 96.1 in January from 95.4 in December, thanks to a growth in four of the index's five components – industrial, construction, services and consumer confidence indicators.
The confidence indicator in industry gained 3 points in January to 2, reaching its long-term average. The development reflected expected increase of production in the next three months.
Confidence in the construction sector gained 7.5 points to -36 as a result of expected new jobs and of more favourable evaluations of the current demand. The indicator was by 8 points below its long-term average.
The retail trade confidence indicator decreased by 1.4 points in January to 3.3 points, affected by negative evaluations of expected business conditions and the stock of goods.
The confidence indicator in the services sector increased by 0.3 points in January to 8 points. The indicator was affected by positive evaluations of the business situation while the current demand was evaluated negatively by respondents.
After losing 0.5 points last month, the consumer confidence index increased by 5.5 points in January to -13.5, affected by improvement of all its components - expected economic situation, assumed development of the financial situation of households and the saving perspectives of households. The indicator exceeded in January its long-term average by 6.3 points and was by 23.6 points higher than a year ago.
On an annual basis, the January economic sentiment indicator was by 8.4 points higher, but it was also by 8.4 points lower than its long-term average.
|Jan-14||Dec-13||m/m change, points|
|Economic sentiment indicator (ESI)||96.1||95.4||0.7|
|Components of ESI:|
|Industrial confidence indicator (40%)||2.0||-1.0||3.0|
|Construction confidence indicator (5%)||-36.0||-43.5||7.5|
|Retail trade confidence indicator (5%)||3.3||4.7||-1.4|
|Services confidence indicator (30%)||8.0||7.7||0.3|
|Consumer confidence indicator (20%)||-13.5||-19.0||5.5|
|Source: Statistical Office of the Slovak Republic|
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