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Trust Indicator in Economy Largely Unchanged in May
Friday 28 May 2010 Zoom in | Print page
Bratislava, May 28 (TASR) - The Index of Economic Sentiment (IES), which shows the level of trust in the Slovak economy, remained largely unchanged in May when compared to April, the Slovak Statistics Office announced on Friday.
The IES went up 0.2 percentage points on a monthly basis to 90.5, with negative developments in all but one of its components cancelled out by a rise in the construction indicator.
The Index's current standing represents an increase of 24.2 percentage points year-on-year. However, it's still 7.9 percentage points below the long-term average.
The indicator of trust in industry continued to fall in May, losing 0.6 percentage points on April, to minus 1.3. Developments in this area were influenced by expectations of a fall in industrial production over the next three months, coupled with a moderate rise in reserves of industrial products.
The confidence indicator in the construction industry rose by 1 percentage point month-on-month to minus 40.5 points, which was 18.5 points lower than the long-term average. This was due to higher demand in this area.
The retail indicator dropped by 4.4 points on the month to minus 6.7, also ending up below the long-term average. This was largely influenced by negative perceptions of the current business environment, along with negative future outlooks.
Confidence in services dropped again in May, by 4.4 points on the month to 12.3 points. This, among other things, was caused by a negative assessment of current demand in the sector.
Following several months of increases, the consumer confidence indicator fell by 4.3 percentage points m-o-m to minus 20.6.
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