Slovak economic sentiment improves in July

Economic sentiment in Slovakia has improved in July after an historic slump in the previous three months. The three-month moving average of the seasonally adjusted economic sentiment indicator (ESI) increased by 9.7 points to 74.5. This follows from the latest data published by the Statistical Office (SO) of the Slovak Republic.

From the sectors covered by the ESI, the confidence indicator has visibly increased in services and in the industry sector. The consumers and construction sectors marked only a slight increase. In retail, on the other hand, it deteriorated slightly. The current value of the ESI lags behind the results of the same period last year by 20.8 points and is below the long-term average by 28.8 points.

The consumer climate in Slovakia improved somewhat at the beginning of July for the third consecutive month, with the seasonally adjusted consumer confidence indicator growing up by 1.1 points to reach minus 34.4.

Optimism regarding the financial situation of households and household savings was marginal. As compared to July 2019, respondent optimism dropped by 30.3 points to 15.4 points below the long-term average.