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Slovakia Business Morale Less Negative in January

Analysis

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The industrial confidence indicator in Slovakia rose by 3.4 points to -12.3 in January, from a 31-month low of -15.7 in the previous reading, survey data from the Slovak Statistical Office (SÚSR) showed on Monday.

The improvement was mainly influenced by the increased optimism about expected production (8 vs 4 in December 2022), namely the manufacture of machinery and equipment, transport equipment, and non-metallic products.

At the same time, prospects for expected employment reversed sharply (4 vs -3), while new orders were slightly less pessimistic (-21 vs -25).

A separate report showed that the consumer confidence indicator in Slovakia also rose by 1.7 points to -32.4 in January.

Improvements were observed in the four main components of the index: expectations regarding households' savings (-27.7 vs -31 in December), the financial situation of the households (-22.1 vs -23.8), the general economic situation (-51.9 vs -53.4), and unemployment (27.8 vs 28.3). 

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