The overall economic sentiment in Slovakia in June decreased, the indicator dropped month-on-month by 10 points

The overall economic sentiment in Slovakia deteriorated significantly in June 2022 after a three-month rise in optimism. The seasonally adjusted economic sentiment indicator (ESI) dropped by 9.7 points to 99.5 points. The increase in entrepreneurial pessimism was reflected in three out of the four sectors monitored, as well as among consumers.

The current evaluation is more pessimistic by 7.5 points than in the corresponding period last year, and also by 3 points lower than the long-term average.

The current result was the most significantly affected by the double-digit month-on-month decrease of confidence in services and industry and by a slight decline in construction and among consumers. Only managers and entrepreneurs resisted the growth of pessimism.

The ESI value represents the weighted arithmetic average of the five sub-confidence indicators, with the confidence indicator in industry (40%) having the greatest impact, followed by the confidence indicator in services (30%), construction (5%), trade (5%) and the consumer confidence indicator (20%). The survey is coordinated by the European Commission and has the same methodology in all EU Member States. Details on the five sub-confidence indicators are provided in a special information report.