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Industrial confidence indicator in March 2021

Industrial confidence indicator in March 2021

Last update: 30.03.2021
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Business tendency surveys and consumer opinions
Publish Date: 30.03.2021

 

In March, the confidence indicator in industry increased after seasonal adjustment by 1,6 p.p. to -3,7. The indicator´s development was favourably influenced mainly by the expected increase of the production over the next three months.

In March compared with February, the industrial production trend rose by 8 p.p. to 17. An increase was registered mainly in manufacture of computer, electronic and optical products, wood and paper products and transport equipment. On the contrary, a decrease of the industrial production was stated by respondents only in other manufacture, repair and installations. The balance of the aggregate orders decreased by 3 p.p. to -18. A deterioration of the level of orders (weighted by production) was recorded more considerably in manufacture of machinery n.e.c. and other non-metallic products; by size groups, in enterprises employing 100 to 249 people and by regions in Trenčín. There was an improvement mainly in manufacture of textiles and apparel. The balance of foreign orders rose by 6 p.p. to -7, compared with February.  An improvement of the level of foreign orders was reported mainly in manufacture of apparel and transport equipment. On the contrary, a deterioration was recorded mainly in manufacture of machinery and equipment and in the chemical industry. In March, the balance of the finished goods stock increased by 1 p.p. to 8; by regions, in Banská Bystrica. The majority of respondents consider the current stock to be sufficient. A decrease of the stock was mainly in manufacture of food; by size groups, in enterprises employing 100 to 249 people and by regions in Trnava and Prešov. Compared with the previous month, the balance of the industrial production over the next three months, increased by 9 p.p. to 15. An increase of the production is assumed mainly in manufacture of machinery and equipment n.e.c., food and other manufacture, repair and installations; by size groups, in enterprises employing 100 to 249 people and by regions, mainly in Trnava and Banská Bystrica. A decrease of the production is expected mainly in the chemical industry. In March, the balance of the expected development of industrial products prices increased by 8 p.p. to 7, representing the highest value since August 2018. A price increase is expected mainly in manufacture of computer, electronic and optical products and textiles and apparel. In March compared with February, the balance of the employment rose by 7 p.p. to -6. An increase in the number of employees is expected mainly in manufacture of machinery and equipment n.e.c., basic metal and fabricated metal products and electrical equipment; by size groups in enterprises employing 20 to 99 people and by regions mainly in Trnava and Banská Bystrica. On the contrary, a decrease of employment is assumed mainly in manufacture of computer, electronic and optical products; by regions in Žilina. The majority of respondents expect a stabilisation of employment.


 Note: *In March 2021, 466 respondents were participated in survey which represents the whole industry.
The values of the confidence indicator in industry and the balances range from -100 (responses of all respondents are pessimistic) to 100 (responses of all respondents are optimistic) however, the balance of the finished goods stock shall be interpreted in the opposite way
. Confidence indicator and balances on republic level are seasonally adjusted.


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