Stats Office: Economic Sentiment Indicator in Slovakia Down in February

27. februára 2020 14:08
Bratislava, February 27 (TASR) - Following growth in January, the three-month moving average of the Economic Sentiment Indicator (ESI) fell by 1 point month-on-month in February 2020 to 98.0 points, mainly due to drops in confidence in industry, construction and services, while confidence among consumers posted slight growth, the Statistics Office reported on Thursday. The current ESI lags behind the long-term average by 5.3 points and by 0.4 points in year-on-year terms. The confidence indicator in industry declined by 3 percentage points (p.p.) to minus 1.3 in February under the influence of an expected decrease in production over the next three months and an expected fall in orders. The confidence indicator in construction decreased by 2 points from the previous month to minus 8.5, mainly due to less favourable evaluations regarding total orders. The current figure exceeds the long-term average by 15.5 points. The confidence indicator in trade went down by 5 p.p. compared to January to stand at 24.0 points. This was due to negative evaluations of current as well as expected business activities. The confidence indicator in services went down by 2 p.p. m-o-m to 0 points. This mainly resulted from positive evaluations of business situation, while respondents evaluated demand for the past three months and expected demand negatively. The consumer climate in Slovakia slightly improved in February, with the seasonally adjusted consumer confidence indicator seeing a m-o-m increase of 0.8 points to minus 11.1. Respondents were optimistic in the indicator's three components - in expectations regarding the overall economic situation, and partly regarding developments in unemployment and the financial situation in households. Conversely, respondents were more pessimistic regarding household savings. They were 6.1 points more pessimistic than in the same period of last year, but the current figure still exceeds the long-term average. ko/df
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