Slovakia Business Morale Less Negative in August

Analysis

The industrial confidence indicator in Slovakia increased by 11.7 points from the previous month to -2.7 in August, a survey released from the Slovak Statistical Office (SÚSR) on Wednesday show.

The improvement was mainly due to growth of expected industrial production (22 vs -13 in July), notably manufacture of machinery & transport equipment (32 vs -13) and manufacture of chemicals and chemicals products (-3 vs -47).

On the other hand, stocks of finished goods rose less (4 vs 22) and current order levels continued to decrease (-15 vs -8).

According to the survey, consumer confidence, meanwhile, lowered to -21.1 in August from the nearly two-year-high of -20.7 in the previous month.

Expectations deteriorated for three out of four components, namely, general economic situation (-32.8 vs -31.6 in July), household financial situations (-12.8 vs -12.3), and unemployment (18.4 vs 17.9).

On the other hand, sentiment improved for future household savings (-20.2 vs -20.8). 

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