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Trust in Slovak Industry in July at Highest Level Since 2007
Wednesday 28 July 2010 Zoom in | Print page
Bratislava, July 28 (TASR) - Trust in the Slovak economy grew in July 2010, with the Index of Economic Sentiment (IES) rising by 1.3 percentage points month-on-month and by 22.4 percentage points year-on-year to 92.5 points. It is still 5.9 points below the long-term average, however, the Statistics Office (SU) reported on Wednesday.
According to SU, the increase was caused mainly by expectations concerning trade and industry.
The indicator of trust in industry in June grew by 3.3 percentage points to 6.6 points, thereby reaching its highest value since October 2007. This development was influenced especially by expected growth in industrial production and a drop in the supply of industrial goods.
Conversely, the construction indicator fell by 7.5 percentage points m-o-m to -45 points, 23 points below the long-time average. This was caused by an expected increase in unemployment.
The indicator of trust in retail improved by 4.3 percentage points. Its current level (-1.7) was influenced by more optimistic evaluations of the current and expected business situation.
The services indicator dropped by 0.7 percentage points m-o-m to 22.3 points.
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