Slovakia's economic sentiment improves for third straight month in October 2013

By bne IntelliNews October 29, 2013

Slovakia's economic sentiment index improved for the third month in a row in October 2013 following two consecutive months of declines, data from the country's statistics office showed. The value of the economic sentiment's three-month running average rose to 93.1 in October from 91.2 in September, thanks to a growth in four of the index's five components – industrial, construction, services and consumers indicators.

The confidence indicator in industry reached its highest value since January 2012, gaining 4 points to 3.7. The development reflected more favourable expectations about a growth in production in the next three months. 

Confidence in the construction sector improved by 3.5 points to -45.5 as a result of more positive evaluations of current demand. The indicator was by 19.5 points below its long-term average.

The retail trade confidence indicator slightly increased in October, adding 0.3 points to -1, affected by more positive evaluations of expected business conditions over the next three months and the lower stock of goods.

The confidence indicator in services increased by 6.3 points to 6  in October after falling in September by 3 points. The indicator was affected by positive evaluations of the business situation and of the expected demand while the current demand was evaluated more negatively by respondents.

After deteriorating in September, the consumer sentiment increased in October by 1.2 points to -21.8 as consumers became less pessimistic about the development of the Slovak economy and the expected unemployment. The indicator exceeded in October its long-term average by 3 points and was by 16.2 points higher than a year ago.

On an annual basis, the October economic sentiment indicator was by 0.4 points lower. It was by 12.2 points lower than the long-term average.

  Oct-13 Sep-13 m/m change, points
Economic sentiment indicator (ESI) 93.1 91.2 1.9
Components of ESI:      
Industrial confidence indicator (40%) 3.7 -0.3 4.0
Construction confidence indicator (5%) -45.5 -49.0 3.5
Retail trade confidence indicator (5%) -1.0 -1.3 0.3
Services confidence indicator (30%) 6.0 -0.3 6.3
Consumer confidence indicator (20%) -21.8 -23.0 1.2
Source: Statistical Office of the Slovak Republic      

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