Slovakia Business Morale Rises in March

Analysis

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The industrial confidence indicator in Slovakia increased by 3 points from a month earlier to -6.3 in March, data from the Slovak Statistical Office (SÚSR) showed, marking the highest reading in three periods.

The improvement was influenced by a significant rise in views for production (12 vs -14 in February), particularly for other non-metallic products and computers, electronic & optical products. Additionally, increases were seen in both expected production for the next three months (22 vs 9), orders (-16 vs -18), and stocks of finished products (25 vs 19).

Meanwhile, export order books experienced a further decline (-21 vs -20), and selling price expectations sharply dropped (1 vs 9). Another report from the Bratislava-based statistics agency showed that consumer confidence in Slovakia increased by 2.4 points to -11 in March, marking the highest reading since March 2020, surpassing the long-term average by 9.2 points.

Consumers expect a more favorable development in three out of the four components, namely the general economic situation (-18.8 vs -24.6 in February), the financial situation of households (-5.1 vs -6), and unemployment (6.2 vs 10.6). Meanwhile, they were more pessimistic about savings (-13.7 vs -12.3).

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