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Services confidence indicator in July 2019

Services confidence indicator in July 2019

Last update: 29.07.2019
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Business tendency surveys and consumer opinions
Publish Date: 29.07.2019

In July compared with June, the confidence indicator in services increased again, its value (2) increased by 7,3 percentage points. The indicator´s development was affected by favourable evaluations of the expected demand, while the business situation and the demand over the past three months were evaluated more negatively by respondents.

Compared with the last month´s survey, the business situation over the past three months slightly deteriorated, the business balance (of seasonally adjusted data) decreased by 1 point and reached the level minus 9. A deterioration of the business situation is felt by 21 % of respondents (by 6 % more than in June), an improvement was reported by 11 % of enterprises (by 7 % more) and 68 % of enterprises (by 13 % less) had a stable development. Negative trend was reflected in financial and insurance activities and in other service activities, slightly also in accommodation and food service activities, there was a favourable situation mainly in transportation and storage and in arts, entertainment and recreation. Compared with the previous month´s survey, the demand for the services over the past three months (minus 11) decreased by 1 point. A deterioration of the demand was indicated mainly in financial and insurance activities, a higher demand was mainly in transportation and storage in the field of real estates. The expected development of the demand for services over the next three months was evaluated positively by respondents, the seasonally adjusted business balance (26) increased by 24 points. A higher demand is expected almost in all sectors, mainly in information and communication, financial and insurance activities but a more significant improvement is expected also in transportation and storage and in accommodation and food service activities, a lower demand is expected only in other service activities. 38 % of enterprises decreased the number of their employees over the past three months (by 13 p.p. more than in the survey conducted in June), 15 % of enterprises (by 1 p.p. more) reported an increase and 47 % of enterprises had a stable development (by 14 p.p. less). Compared with the last month, the final seasonally adjusted balance (minus 23) decreased by 4 points, indicating a deterioration of the employment situation. Over the past three months, the number of the employed decreased in transportation and storage, in the field of real estates, arts, entertainment and recreation, a higher number of employees was indicated in accommodation and food service activities and in professional, scientific and technical activities. A slight improvement is assumed in the development of the employment over the next three months, the business balance (1) increased by 2 points, compared with the survey conducted in June. The number of employees will be increased mainly in accommodation and food service activities as well as in administrative and support service activities, a lower number of employees is considered mainly in arts, entertainment and recreation. Compared with the previous period, the business balance of the expected prices of services over the next three months (0) decreased by 18 points while the majority of enterprises (80 %) assume a stable development. 14 % of enterprises expect a price decrease (by 6 % more than in the survey conducted in the previous month), 6 % of enterprises expect a price increase (by 18 % less). 36 % 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 (30 %), shortage of employees (23 %), financial constraints (20 %) and other barriers (12 %), 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 July.

Note: * In July 438 respondents were participated in survey which represents the whole service sector.

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  • Statistical Office of the SR
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  • 824 67 Bratislava
  • Slovak Republic
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