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Industrial confidence indicator in November 2020

Industrial confidence indicator in November 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: 27.11.2020

 

In November, the confidence indicator in industry increased by 3 p.p. (percentage points-p.p.) to 7 after seasonal adjustment. The development of the indicator was favourably influenced mainly by the improved level of orders and the decrease of the goods stock.

In November compared with October, the industrial production trend fell by 15 p.p. to 24. A decrease was registered mainly in manufacture of food, electric equipment and in other manufacture, repair and installations. On the contrary, an increase of the industrial production was reported by respondents in manufacture of machinery and equipment n.e.c. and in the chemical industry. The balance of the aggregate orders increased by 7 p.p. to -15. An improvement of the level of orders (weighted by production) was recorded more significantly in manufacture of other non-metallic products, computer, electronic and optical products and in the chemical industry. A deterioration was only in manufacture of food and electrical equipment. Compared with October, the balance of foreign orders rose by 6 p.p. to -16. An improvement of the level of foreign orders was reported mainly in manufacture of computer, electronic and optical products, in the chemical industry and in manufacture of pharmaceutical products. On the contrary, a deterioration was recorded mainly in manufacture of food. The share of respondents considering the level of foreign orders to be sufficient fell to 67 %. In November, the balance of the finished goods stock decreased by 3 p.p. to -2. A decrease of the stock is expected by respondents mainly in manufacture of textiles and apparel and computer, electronic an optical products. On the contrary, an increase of the goods stock was reported mainly in manufacture of electrical equipment. The majority of respondents (96 %) consider the stock to be sufficient. Compared with the previous month, the balance of the industrial production over the next three months, decreased by 1 p.p. to 34. A lower production is expected mainly in manufacture of computer, electronic and optical products, other non-metallic products and textiles and apparel; by size groups, in enterprises employing 1000 and more people and by regions, mainly in Trenčín and Trnava. An increase of the production is assumed mainly in manufacture of electrical equipment. In November, the balance of the expected development of industrial products prices increased by 1 p.p. to 2. A price rise is assumed mainly in manufacture of machinery and equipment n.e.c. A decrease of prices was reported mainly in the chemical industry and in manufacture of food. In November compared with October, the balance of the employment rose by 4 p.p. to -9. An increase in the number of employees is expected mainly in manufacture of textiles and apparel and transport equipment; by regions, mainly in Trnava. On the contrary, a decrease of the employment is assumed mainly in manufacture of computer, electronic and optical products and other non-metallic products; by size groups, in enterprises employing 500 and 999 people and by regions in Banská Bystrica. 77 % of respondents expect a stabilisation of employment.


Note: *In November 2020, 487 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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