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Economic sentiment in Slovakia increased last June

Economic sentiment in Slovakia increased last June
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According to the Bratislava-based Slovak Statistical Office (SÚSR), the country’s economic sentiment rose in June after a partial decline last month, somewhat more optimistic than a month earlier.

The seasonally adjusted economic sentiment indicator (IES) rose by 3.9 points to 107, reaching its highest level since September 2017, surpassing its level immediately before the onset of the coronavirus pandemic, for the third month in a row.

Confidence has risen sharply in industry, slightly in trade, among consumers and in construction. In services, on the other hand, it decreased slightly. The current value of ESI is much more optimistic than in the corresponding period last year after its deep slump caused by the anti-epidemic measures (up to 32 points) and it is slightly above the long-term average (by 4.5 points).

In June, the confidence indicator in industry increased by 9,7 percentage points (p.p.) to 10, after seasonal adjustment. The indicator´s development was influenced mainly by the expected increase of the production over the next three months. In June, the seasonally adjusted confidence indicator in services slightly decreased, after three months growth, its value (25.0) dropped by 2.3 p. p. compared with May, representing 5 p.p. above the long-term average. The indicator´s development was affected by more optimistic evaluations of the business activities and the demand over the last three months, while the expected demand was evaluated more negatively by respondents.

At the beginning of June, the consumer mood in Slovakia was again slightly more optimistic than in the previous month. The seasonally adjusted indicator of consumer confidence, increased by 2.7 points to -18.4, month-on-month. The indicator thus approached little more the level before the onset of the pandemic. See details.

Source: Online/KSU

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