Slovakia Business Morale Less Negative in July

Analysis

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The industrial confidence indicator in Slovakia increased by 4.4 points from a month earlier to -14.3 in July, marking its third consecutive month of negative reading, survey data from the Slovak Statistical Office (SÚSR) showed.

The improvement was mainly due to softer drops in both current order level (-8 vs -16 in June), notably in manufacture of transport equipment, and production expectation (-19 vs -13), especially in manufacture of computers, electronic & electrical products.

At the same time, stocks of finished goods further accelerated (22 vs 21), mainly in manufacture of chemicals & chemical products. Separate data from the Bratislava-based agency showed that consumer confidence rose to -20.7 in July from -23.1 in the previous month. It was the highest reading since September 2021.

Expectations improved for general economic situations (-31.6 vs -35.7 in June), household financial situations (-12.3 vs -13.7) and household savings (-20.8 vs -22.2) . In addition, concerns were lessened about future unemployment (17.9 vs 20.9).

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