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Services confidence indicator in April 2019

Services confidence indicator in April 2019

Last update: 29.04.2019
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Business tendency surveys and consumer opinions
Publish Date: 29.04.2019

In April, the confidence indicator in services decreased, its value (1,3) was lower by 5,7 percentage points compared with March. The indicator´s development was affected by unfavourable evaluations of the business situation, as well as the expected demand, while the demand over the past three months was evaluated positively by respondents.

Compared with the last month´s survey, the business situation over the past three months deteriorated, the business balance (of seasonally adjusted data) decreased by 9 points and reached the level 1. An improvement of the business situation is felt by 17 % of respondents (by 10 % less than in March), a deterioration was felt by 16 % of enterprises (by 5 % less) and 67 % of enterprises (by 15 % more) had a stable development. Negative trend was reflected mainly in financial and insurance activities, in accommodation and food service activities as well as in other service activities, the situation was evaluated positively mainly in transportation and storage and in information and communications. Compared with the previous month´s survey, the demand for the services over the past three months (1) increased by 12 points. Improvement of the demand was assumed mainly in financial and insurance activities and in transportation and storage, on the contrary, a lower demand was recorded in accommodation and food service activities, in administration and support service activities, as well as in other service activities. The expected development of the demand for services over the next three months was evaluated negatively again, the seasonally adjusted business balance (2) decreased by 20 points. A lower demand is expected almost in all sectors, mostly though in the field of real estates, financial and insurance activities, a higher demand is expected only in other service activities and a slight improvement in information and communication. 11 % of enterprises increased the number of their employees over the past three months (by 1 p.p. more than in the survey conducted in March), 36 % of enterprises (by 17 p.p. less) reported a decrease and 53 % of enterprises had a stable development (by 16 p.p. more). Compared with the last month, the final seasonally adjusted balance (minus 22) increased by 16 points, indicating an improvement of the employment situation. Over the past three months, the number of the employed increased mainly in transportation and storage, in accommodation and food service activities, a lower number of employees was recorded mainly in information and communications, as well as in other service activities. An improvement is assumed also in the development of the employment over the next three months, the business balance (6) increased by 1 point, compared with the survey conducted in March. Almost all the surveyed sectors plan to slightly increase or maintain the current number of employees. Compared with the previous period, the business balance of the expected prices of services over the next three months (17) decreased by 8 points while 2 % of enterprises (by 1 % more than in the previous survey) consider a price decrease, 22 % of enterprises expect a price increase (by 1 % more than in March). The majority of enterprises (76 %) consider a stable development. 37% of companies do not feel limiting factors concerning the realization of their business plans. The most significant factors limiting the business plans in services have been insufficient demand (31 %), financial constraints (21 %), shortage of employees (18 %) and other barriers (13 %), within other barriers respondents reported most often: unfavourable business environment for the small and medium-sized enterprises, frequent legislative changes, lack of qualified staff, increase of the minimum wage, high competition, corruption and bureaucracy. Respondents reported they used capacities in services to 93 % in April.

Note: * In April 375 respondents were participated in survey which represents the whole service sector.

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  • Slovak Republic
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