Slovak News Back to the news
Rising Confidence in Economy Fuelled Mainly by Better Retail Atmosphere
Monday 29 November 2010 Zoom in | Print page
Bratislava, November 29 (TASR) - The indicator of confidence in the Slovak economy as expressed by the Index of Economic Sentiment (IES) grew by 0.7 points on monthly terms to reach 92.6 points in November, the Statistics Office announced on Monday.
The favourable developments were mainly due to increased confidence in retail, services and the construction industry.
Conversely, confidence in industry dropped from 2.3 points in October to 0.3 points in November, with a drop in demand for industrial products blamed for the fall.
Confidence in retail went up by 3.7 points on the month to 15 points in November. Meanwhile, confidence in services rose by 2.6 points to 26.3.
A deteriorating trend in consumer confidence was halted in November. Owing to a significant drop in anxiety concerning unemployment and an expected improvement in households' financial situation, the indicator of consumer confidence exceeded the long-term average, rising by 6.8 points on the month to minus 21.5 points in November.
All rights reserved. Any publishing or further dissemination of press releases and photographs from TASR's resources without TASR's prior written approval constitutes a violation of the Copyrights Act.
