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Trust in Slovak Economy Grew in June after Drop in May
Tuesday 29 June 2010 Zoom in | Print page
Bratislava, June 29 (TASR) - Trust in the Slovak economy grew in June 2010, with the Index of Economic Sentiment (IES) rising by 0.6 percentage points month-on-month and by 23.5 percentage points year-on-year to 91.1 points. It is still 7.3 points below the long-term average, however, the Statistics Office (SU) reported on Tuesday.
According to SU, the increase was influenced mainly by the expectations concerning unemployment, savings and the financial situation for households. These three elements had an effect on the consumer trust indicator, which grew by 3.2 percentage points in June to -17.4 points.
The indicator of trust in industry grew in June, after two months of falls, by 4.6 percentage points to 3.3 points, thereby slightly exceeding the long-term average. This development was influenced especially by expected growth in industrial production and growing demand for industrial products.
Meanwhile, the construction indicator saw a rise of 3 percentage points m-o-m to -37.5 points, still 14.5 points below the long-time average. This was caused by increasing demand.
The indicator of trust in retail improved by 0.3 percentage points. Its current level (-6.0) was influenced by more optimistic evaluations of the current and expected business situation.
The services indicator grew as well, after two months of falls, by 10.7 percentage points to 23 points.
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