Slovak Business Mood Falls, Consumer Confidence up in June

Analysis

The industrial confidence indicator in Slovakia declined by 9 points from a month earlier to -18.7 in June, marking its lowest since May 2020, the Bratislava-based Slovak Statistical Office (SÚSR) said in its monthly report.

Pessimism among manufacturers was mainly attributed to a sharp fall in expected production (-19 vs 3 in May), notably in the manufacture of basic metals and fabricated metal products, transportation and electrical equipment.

Also, current order level dropped further (-16 vs -13), especially in the manufacture of electrical equipment and machinery and other equipment.

Meanwhile, stocks of finished goods continued to rise (21 vs 19), particularly in other manufacture, repair and installations, while prospects for employment improved (10 vs 8).

Consumer confidence in June edged up by 1.1 points to -23.1, from -24.2 in the previous month. Meanwhile, worries about unemployment increased (20.9 vs 17.7). 

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