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Confidence in Economy Grew in March, Apart From in Construction
Monday 29 March 2010 Zoom in | Print page
Bratislava, March 29 (TASR) - Confidence in the Slovak economy improved for the tenth month in a row in March, with the Index of Economic Sentiment (IES) increasing by 1.9 points on the month to 89 points. This represents a year-on-year increase of 15.9 points, which is still 11.3 points lower than the long-term average, however, the Statistic Office reported on Monday.
According to the data, consumer confidence in terms of expected economic developments, unemployment and the overall financial situation for households grew by 2.2 points to -17.8 this month, which is 28.4 points lower than a year ago.
Optimism was expressed vis-a-vis industry, with this indicator improving by 9.3 points month-on-month to 4, above the long-term average for the first time in 23 months. This positive development was influenced especially by expected growth in industrial production over the next three months and growing demand for industrial products.
Conversely, the indicator of confidence in the construction industry dropped by 0.5 points to -42.5 in March, with lower demand for products and rising employment in this sphere foreseen as well. The indicator is currently 20.5 points below the long-term average.
Retailers' views on the expected economic situation over the next three months remained largely unchanged in March, with a monthly improvement of only 0.3 points to reach -9.7.
Companies doing business in the field of services perceived the current economic situation, as well as expected demand, slightly better than they did a month ago (with the indicator up 2.7 points to 18 in March), but the current standing still lags behind the long-term average.
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