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Industrial confidence indicator in November 2021
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Industrial confidence indicator in November 2021

Last update: 29.11.2021
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Business tendency surveys and consumer opinions
Publish Date: 29.11.2021



In November, the confidence indicator in industry increased by 4,7 p.p. to 0 after seasonal adjustment. The  indicator´s development was favourably influenced mainly by the expected increase of the production in the next three months and by the increase of orders.

In November compared with October, the industrial production trend rose by 13 p.p. to -22. An increase was registered mainly in manufacture of textiles and apparel, wood and paper products and pharmaceutical products. On the contrary, a decrease of the industrial production was reported mainly in manufacture of transport equipment, basic metal and fabricated metal products and machinery and equipment n.e.c. The balance of the aggregate orders rose by 6 p.p. to 2. An improving level of orders (weighted by production) was recorded more considerably in manufacture of transport equipment, electrical equipment and textiles and apparel; by size groups in enterprises employing 1000 and more people and by regions in Žilina and Prešov. There was a deterioration mainly in manufacture of machinery and equipment. Compared with October, the balance of foreign orders increased by 7 p.p. to 6. An upward level of foreign orders was started mainly in manufacture of transport equipment, electrical equipment and textiles and apparel. On the contrary, a deterioration was observed mainly in the chemical industry. In November, the balance of the finished goods stock dropped by 2 p.p. to 26. Decreased goods stocks are indicated mainly in the chemical industry and in manufacture of textiles and apparel. The majority of respondents consider the goods stock to be sufficient. Higher stocks of goods were mainly in manufacture of food and machinery and equipment n.e.c. Compared with the previous month, the balance of the industrial production over the next three months increased by 6 p.p. to 24. An increase of the production is assumed mainly in manufacture of wood and paper products and textiles and apparel. A decrease of the production is expected mainly in the chemical industry, in manufacture of transport equipment and computer, electronic and optical products. In November, the balance of expected development of prices of industrial products remained at the same level as in October (21). They expect an increase of prices mainly in the chemical industry and in other manufacture, repair and installations; by size groups, in enterprises employing 20 to 99 people and by regions mainly in Prešov and Banská Bystrica. On the contrary, a price drop is assumed mainly in manufacture of computer, electronic and optical products and wood and paper products. In November compared with October, the balance of employment remained unchanged, at the level 1. An increase in the number of employees is assumed mainly in manufacture of basic metal and fabricated metal products; by regions only in Košice. On the contrary, a lower number of employees is assumed mainly in the chemical industry, in manufacture of machinery and equipment; by size groups in enterprises employing 500 to 999 employees and by regions in Žilina and Nitra.  75 % of respondents expect the employment to be stabilized.

The overall data are seasonally adjusted and the data by sectors are not seasonally adjusted, therefore it may result in an unusual development in the comparison of these indicators and of the situation in which we currently find ourselves.

 Note: *In November 2021, 714 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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