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Economic sentiment indicator in March 2020

Economic sentiment indicator in March 2020

Last update: 30.03.2020
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Business tendency surveys and consumer opinions
Publish Date: 30.03.2020

In March compared with the value of the previous month, the three-months moving average of the economic sentiment indicator (ESI) decreased by 0,1 points to 97,9. The confidence increased mainly in construction and slightly less among customers and in trade. On the contrary, it decreased in industry and services. ESI is currently lagging behind the long-term average by 5,4 points and behind the value of the corresponding period last year by 0,6 points.

In March, the confidence indicator in industry decreased by 1,7 percentage points (p. p.)  to the value -3. The development of the indicator was unfavourably influenced mainly by the decrease of the expected production over the next three months. In March compared with the previous month, the confidence indicator in construction increased by 4 points to -4,5 due to favourable evaluations of the overall level of orders. The current result is exceeding the long-term average by 19,5 points. In March compared with February, confidence indicator in trade increased by 2,3 p. p. to 26,3 as a result of positive evaluations of the current business activities and the stock of goods. In March, the confidence indicator in services decreased again, its value (-1) was lower by 1 percentage point, compared with February. The indicator´s development was affected mainly by the negative evaluations of the expected demand while the business situation and the demand over the past three months were evaluated positively. 

At the beginning of March compared with the last month, the consumer mood in Slovakia was more optimistic in Slovakia. The seasonally adjusted indicator of consumer confidence, increased month-on-month by 3,3 points to -7,8. Respondents were more optimistic in all the four indicator components, mainly in the expectations of the general economic situation and the saving perspectives of households, slightly less in the expectations of the financial situation of households and the unemployment development. Compared with the situation last year, the respondents were more pessimistic by 0,8 points and the current results is exceeding the long-term average.

The survey was conducted in the first half of March, therefore the impacts of the spread of coronavirus infection and the implementation of preventive measures declared by the Slovak Government during this period are only partially covered in the surveys.

Note: The values of the confidence indicator range from -100 (responses of all respondents are maximally pessimistic) to 100 (responses of all respondents are maximally optimistic).
Data are seasonally adjusted.


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