Slovakia’s consumer, industry confidence declines in August

(RTTNews) - Slovakia’s consumer confidence indicator declined in August from July, a report by the Statistical office said Thursday. Besides, the confidence in the industrial sector continued to decline.

The consumer confidence indicator declined 1.3 points to -10.1 in August from -8.8 in July, as consumers’ expectations regarding all four main components of the index declined.
These included expectations regarding household savings, financial situation, estimated development of the national economy and rise in unemployment.

The confidence in the industrial sector continued to fall in August. The index slipped to -0.3 in August from +0.7 in July. The report said the fall in confidence was mainly due to negative expectations of production over the next three months and a small increase in the level of stock.

Among the components of the index, productions expectations declined, with the index falling to 3 from 11.

Orders books index improved slightly, but continued to remain negative for the third straight month. The index improved to -1 from -8. Stock of finished goods index increased to +3 from +1 in July.

The index with regard to production trends,rose to 38 from 33. Export orders improved, with the index standing at 0 from -8 in the previous month.

Selling price expectations increased to 32 from 28. However, employment expectations fell further to -14 from -5.

Among the major industrial sectors, confidence in the construction sector remained unchanged at -4.5. Confidence in the retail sector improved to 21.7 from 18.3. However, it fell to 19.7 from 22 in the service sector.

The economic sentiment indicator increased 0.6 percentage points to 97.1 in August from 96.5 in July. In July, the indicator fell sharply in both the euro area and the EU to 89.5 and 88.7 respectively. The month-on-month decline represented the largest fall in the index value for both regions since October 2001. This was also the lowest level since March 2003.

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