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Services confidence indicator in February 2020

Services confidence indicator in February 2020

Last update: 27.11.2020
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Business tendency surveys and consumer opinions
Publish Date: 27.02.2020

In February, the confidence indicator in services decreased again, its value (0) was lower by 2 percentage points (p.p.), compared with January. The indicator´s development was affected mainly by the positive evaluations of the business situation while the demand over the past three months and the expected demand were 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 4 points and reached the level -7. An improvement of the business situation is felt by 25 % of respondents (by 2 p.p. more than in the survey conducted in January), a deterioration was indicated by 32 % of enterprises (by 1 p.p. less than in the last month´s survey) and 43 % of enterprises (by 1 % less) had a stable development. An upward trend was reflected mainly in transportation and storage and in accommodation and food service activities, deterioration was perceived mainly in financial and insurance activities and in the field of real estates. Compared with the January´s survey, the demand for the services over the past three months (2) decreased by 7 points. A more considerable decrease of the demand was recorded mainly in information and communication and in the field of real estates, on the contrary, higher demand was in transportation and storage, there was a slight increase also in accommodation and food service activities and in arts, entertainment and recreation. The expected development of the demand for services over the next three months was evaluated negatively by respondents, the seasonally adjusted business balance (5) decreased by 3 points. A lower demand is expected mainly in accommodation and food service activities, an improvement of the demand is assumed mainly in transportation and storage. 26 % of enterprises decreased the number of their employees over the past three months (by 4 p.p. more than in the survey conducted in January), 17 % of enterprises (by 1 p.p. less) reported an increase and 57% of enterprises had a stable development (by 3 p.p. less). Compared with the last month, the final seasonally adjusted balance (-10) decreased by 7 points, further indicating a downward trend in the field of employment. A drop in the number of employees was recorded almost in all sectors, except accommodation and food services where an increase of employees was recorded. A deterioration is assumed in the development of the employment over the next three months, the business balance (9) decreased by 3 points, compared with January. A lower number of employees is planned mainly in information and communication as well as in professional, scientific and technical activities, a higher number of employees is assumed mainly in administrative and support service activities. Compared with the previous period, the business balance of the expected prices of services over the next three months (9) decreased by 8 points while a decrease of prices is considered only by 1 % of enterprises (by 4 p.p. less than in the last month´s survey). 7 % of enterprises assume a price increase (by 23 p.p. less than in the previous month), 92 % of enterprises (by 27 p.p. more) expect a stable development.

Note: * In February 451 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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