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Slovakia Business Confidence Increases in March

Figures

The industrial confidence indicator in Slovakia rose sharply by 8.4 points to -6.3 in March 2023, its highest since July last year, a report released by the Slovak Statistical Office (SÚSR) on Thursday show.

Optimism among manufacturers was mainly attributed to the increase in expected production (13 vs 0 in February), mainly in other manufacture, repair and installation, and in manufacture of basic metals and fabricated metal products; and new orders (-17 vs -21), mostly in production of computers, electronic and optical products, machines and equipment not classified elsewhere, and in the pharmaceutical industry.

At the same time, prospects for employment went up to 4 from 2. Meanwhile, stocks of finished goods dropped (15 vs 23), particularly in manufacture of transport equipment, while selling price expectations worsened (9 vs 23). The consumer confidence indicator increased also by 3.2 points to -30.1 in March.

It was the highest reading since August last ye ar, as improvements were seen in all four main sub-indexes: expectations regarding the general economic situation (-44.3 vs -52.8 in February), households' financial situation (-19.4 vs -21.7), their savings (-26.6 vs -27.2) and unemployment (29.9 vs 31.5). 

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