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Services confidence indicator in November 2019

Services confidence indicator in November 2019

Last update: 28.11.2019
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Business tendency surveys and consumer opinions
Publish Date: 28.11.2019

In November, the confidence indicator in services slightly increased again, its value (9,3) was higher by 0,6 percentage points, compared with October. The indicator´s development was affected by favourable evaluations of the business situation and the demand over the past three months, while the expected demand was evaluated 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 5 points and reached the level -1. An improvement of the business situation is felt by 20 % of respondents (by 4 % more than in October), a deterioration was indicated by 17 % of enterprises (similarly as in the previous month) and 63 % of enterprises (by 4 % less) had a stable development. An improvement was reflected in transportation and storage, in information and communication, as well as in professional, scientific and technical activities, an unfavourable was perceived mainly in accommodation and food service activities and in administrative and support service activities. Compared with the October´s survey, the demand for the services over the past three months (18) increased by 8 points. A more considerable increase of the demand was recorded mainly in transportation and storage, however, an improvement was felt also in information and communication, in professional, scientific and technical activities and also in administrative and support service activities. The expected development of the demand for services over the next three months was evaluated negatively by respondents, the seasonally adjusted business balance (11) decreased by 11 points. A lower demand is expected mainly in accommodation and food service activities, in financial and insurance activities, a higher demand is assumed mostly in transportation and storage, as well as in administrative and support service activities. 19 % of enterprises increased the number of their employees over the past three months (by 2 p.p. more than in the survey conducted in October), 22 % of enterprises (by 2 p.p. less) reported a decrease and 59% of enterprises had a stable development (similarly as in the previous month). Compared with the last month, the final seasonally adjusted balance (-5) increased by 2 points, indicating the maintenance of the positive trend in the field of employment. Over the past three months, the number of the employed increased in financial and insurance activities, in administration and support service activities and in other service activities, the highest drop in the number of employees was in accommodation and food service activities. An improvement is also assumed in the development of the employment over the next three months, the business balance (6) increased by 4 points, compared with the survey conducted in October. The number of employees will be increased mainly in arts, entertainment and recreation, on the contrary, a lower number of employees is expected in information and communication and in the field of real estates. Compared with the previous period, the business balance of the expected prices of services over the next three months (18) decreased by 3 points while a price decrease is still considered only by 1 % of enterprises. 28 % of enterprises expect a price increase (by 8 % more than in the previous period), 71 % of enterprises (by 8 % less) assume a stable development. 

Note: * In November 425 respondents were participated in survey which represents the whole service sector.  The values of the confidence indicator in services and the balances range from -100 (responses of all respondents are pessimistic) to 100 (responses of all respondents are optimistic). Data are seasonally adjusted.

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