Slovak consumer morale declines in May

Analysis

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The consumer confidence indicator in Slovakia fell by 1.5 points to a one-year low of -33.3 in May, as concerns about the expected financial situation of households (-15.2 points vs. 11.4 points) and the general economic situation increased the most (-45.9 vs. -42.3 in April), data released from the Bratislava-based Slovak Statistical Office (SÚSR) showed on Monday.

Consumers also assumed a more negative development of their savings (-20.9 vs. -20.8).

However, worries about unemployment decreased (16.2 vs. 17.8), and expected inflation also fell (61.8 points vs. 66.5 in April) but was higher than at the beginning of the year (59.4 points).

According to a separate report, the industrial confidence indicator in Slovakia increased by 3.7 points to 10 in May, its highest since last June.

Optimism among manufacturers has mainly been attributed to increased orders (17 points vs. 6 points a month earlier) and decreased finished goods stock (21 vs. 23 a month earlier).

M meanwhile, production expectations fell slightly to 34 from 36.

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