Slovakia's three-month moving average of the economic sentiment indicator (ESI) increased by 1 point to the level 98.4 month-on-month in February, mainly due to growth in consumer confidence and confidence in industry, as well as favourable development of confidence in services in past few months, the Slovak Statistics Office reported on February 28.
The current ESI is lagging behind the long-term average by 5.2 points and in year-on-year terms by 3.4 points. The confidence indicator in industry went down by 3.7 percentage points (p.p.) to 3.7 in February, positively influenced by an expected increase in production over the next three months.
Confidence in construction remained unchanged (-11.5) due to unfavourable development of orders eliminated by favourable evaluations of expected employment.
The confidence indicator in trade went down by 2pp in February to 17.3. The confidence indicator in services decreased by 1.3pp, reaching the level of -1.3, negatively impacted by evaluations of demand for the past three months.
The consumer mood in Slovakia has improved, with the seasonally-adjusted consumer confidence indicator up by 2.9 points to -5.0 m/m in February due to increased confidence in all its components, mainly expected developments of the households´ financial situation, expected development of the country economic situation, as well as unemployment and the saving prospects.