Slovakia's economic sentiment worsens further in July

By bne IntelliNews July 30, 2013

Slovakia's economic sentiment index worsened for the second straight month in July 2013 following four consecutive months of improvements, data from the country's statistics office showed. The value of the economic sentiment's three-month running average fell to 89.4 points in July from a revised 90.7 points in June, affected mostly by a drop in the retail trade confidence indicator.

After improving in the previous three months, sentiment in the retail trade sector worsened in July, as the indicator fell by 3.3 points to 0.0, affected by more negative evaluations of the current and the expected business environment in the next three months.

The confidence indicator in industry improved in July after deteriorating in the previous two months, gaining 2.3 points to -5, affected by favourable development in all of its three components - demand for industrial products, expected production in the next three months, and stock of finished goods.

The confidence indicator in construction improved for the third month in a row, gaining 4.5 points to -47.5, buoyed by more optimistic evaluations of the current demand and the expected employment. But despite the slight improvement, it was by 21.5 points below its long-term average.

The confidence indicator in services rose by 1 point on the month to -3.3, affected by more positive evaluations of the current and expected demand.

The consumer sentiment improved for the third consecutive month in July, with the indicator rising by 5.5 points to -20.1, reflecting a reduced pessimism in all its components. The indicator went above its long-term average after staying below it for 11 months in a row. It was by 2.9 points higher than a year ago.

On an annual basis, the July economic sentiment indicator was by 8.3 points lower. It was by 15.9 points lower than the long-term average.

  Jul-13 Jun-13 m/m change, points
Economic sentiment indicator (ESI) 89.4 90.7 -1.3
Components of ESI:      
Industrial confidence indicator (40%) -5.0 -7.3 2.3
Construction confidence indicator (5%) -47.5 -52.0 4.5
Retail trade confidence indicator (5%) 0.0 3.3 -3.3
Services confidence indicator (30%) -3.3 -4.3 1.0
Consumer confidence indicator (20%) -20.1 -25.6 5.5
Source: Statistical Office of the Slovak Republic      

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