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Slovak business, consumer morale worsens in October

Analysis

The industrial confidence indicator in Slovakia slumped by 13.3 points to -12.3 in October, from 1.0 in the previous month, the Slovak Statistical Office (SÚSR) said in its monthly report.

The office recorded the worst reading in business morale since April, as production expectations over the next three months plunged (-17 vs. 20 in September), while expected selling price decreased further (-8 vs. -4).

At the same time, both new orders (-19 vs. -16) and new export orders (-21, down from -18) dropped, while the stock of finished products was unchanged (at 1).

The consumer confidence indicator fell slightly to -7.7 in October, from -7.6 in the previous month, the Bratislava-based statistical agency said in a separate report.

The latter was the lowest reading since January, as householdsʼ pessimistic expectations of their financial situation, and of the general economic situation, were only partly offset by optimistic expectations of the saving perspectives of households, while expectations of unemployment remained practically unchanged, SÚSR said.

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