Slovakia Consumer and Business Confidence Worsens

Analysis

Consumer confidence in Slovakia declined by 3 points to -24.2 in May, from -21.2 in the previous month, a study by the Slovak Statistical Office (SÚSR) showed.

Concerns increased in all of the four components, namely; expectations regarding households' savings (-25.3 vs -23 in April), the financial situations of the households (-16.6 vs -12.9), general economic situations (-37.3 vs -33.5), and worries about unemployment (17.7 vs 15.3), the Bratislava-based agency said.

The industrial confidence indicator fell by 13.4 points from a month earlier to -9.7 in May.

Pessimism among manufacturers was mainly due to a sharp drop in production expectations (3 vs 30 in April), particularly in manufacture of computers, electronic and optical products (-16 vs 89) transport equipment (-33 vs 28) and wood & paper products (-16 vs 0), according to the study. 

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