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Services confidence indicator in June 2019 - revised data

Services confidence indicator in June 2019 - revised data

Last update: 03.07.2019
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Business tendency surveys and consumer opinions
Publish Date: 28.06.2019

Warning:

Data of Economic Sentiment Indicator and Confidence Indicators in Services and in Trade for June 2019 were revised on 3rd July 2019

In June, the confidence indicator in services increased, after the two-months decrease, its value (minus 5,3) was higher by 2 percentage points. The indicator development was influenced by favourable business situation and demand assessments in the last three months, while respondents assessed the expected demand negatively.

Compared with the last month´s survey, the business situation over the past three months improved, the business balance (of seasonally adjusted data) increased by 11 points and reached the level minus 8. An improvement of the business situation is felt by 4 % of respondents (by 6 % less than in May), a deterioration was reported by 15 % of enterprises (by 19 % less) and 81 % of enterprises (by 25 % more) had a stable development. Positive trend was reflected mainly in accommodation and food service activities, as well as in financial and insurance activities, slightly improved in art, entertainment and leisure and other activities; the unfavourable situation was mainly in transport and storage. Compared with the previous month´s survey, the demand for the services over the past three months (minus 10) increased by 1 point. An improvement of the demand was indicated mainly in accommodation and food services, as well as in financial and insurance activities, a lower demand was recorded mainly in the field of real estates, transport and storage, but also in arts, entertainment and leisure activities. The expected development of the demand for services over the next three months was evaluated negatively by respondents, the seasonally adjusted business balance (2) dropped by 6 points. A lower demand is expected especially in transport and storage, as well as in information and communication; higher demand is expected in accommodation and food services, in real estate, art, entertainment and leisure other activities. 14 % of enterprises increased the number of their employees over the past three months (by 5 p.p. more in May), 25 % of enterprises (by 2 p.p. more) reported a decrease and 61 % of enterprises had a stable development (by 7 p.p. less). Compared with the last month, the final seasonally adjusted balance (minus 19) increased by 1 point, indicating a further slight improvement of the employment situation. Over the past three months, the number of the employed increased mainly in arts, entertainment and recreation and in other service activities, although a higher number of employees was registered also in the field of real estates and in professional, scientific and technical activities; a more significant decrease in the number of employees was indicated mainly in administration and support service activities, there was a staff reduction also in accommodation and food service activities. A deterioration is assumed in the development of the employment over the next three months, the business balance (minus 1) decreased by 9 points, compared with the survey conducted in May. The number of employees will be decreased in transportation and storage, real estates and in administrative and support service activities; increase is considered mainly in accommodation and food service activities. Compared with the previous period, the business balance of the expected prices of services over the next three months (18) increased by 13 points while 24 % of enterprises (by 21 % more than in the previous survey) consider a price increase, 8 % of enterprises expect a price decrease (by 7 % more). The majority of enterprises (68 %) expect a stable development.

* In June 401 respondents were participated in survey which represents the whole service sector.

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