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Industrial confidence indicator in February 2022
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Industrial confidence indicator in February 2022

Last update: 25.11.2022
Ilustratívny obrázok/Illustrative image
Publisher: Statistical Office of the SR
Topic: Macroeconomic statistics
Domain: Business tendency surveys and consumer opinions
Publish Date: 25.02.2022

In February, the confidence indicator in industry decreased by 3,7 percentage points (p.p.) to -8, after seasonal adjustment. The indicator´s development was unfavourably affected mainly by the expected decrease of the production in the next three months.

In February compared with January, the industrial production trend dropped by 11 p.p. to 15. A decrease was registered mainly in manufacture of computer, electronic and optical products, transport equipment and food. On the contrary, an increase of the industrial production was stated by respondents mainly in manufacture of other non-metallic products, textiles and apprel and in other manufacture, repair and installations.

The balance of the aggregate orders dropped by 3 p.p. to -2. A lower level of orders (weighted by production) was recorded more significantly in manufacture of basic metals and fabricated metal products; by size groups, in enterprises employing 1 000 and more people and by regions in Košice and Žilina. There was an improvement mainly in manufacture of electrical equipment and other non-metallic products.

Compared with January, the balance of foreign orders decreased by 9 p.p. to -6. A lower level of foreign orders was reported mainly in manufacture of computer, electronic and optical products and basic metals and fabricated metal products. On the contrary, an improvement was recorded mainly in manufacture of electrical equipment and food.

In February, the balance of the finished goods stock dropped by 1 p.p. to 23. Decreased goods stocks were reported mainly in manufacture of machinery and equipment n.e.c. and wood and paper products. The majority of respondents consider the goods stock to be sufficient. An increase of the goods stock was mainly in manufacture of food and in other manufacture, repair and installations.

Compared with the previous month, the balance of the industrial production over the next three months dropped by 9 p.p. to 1. A decrease of the production is expected mainly in manufacture of computer, electronic and optical products; by size groups, in enterprises employing 500 to 999 people and by regions in Nitra and Trnava. An increase of the production is assumed mainly in the chemical industry, in manufacture of basic pharmaceutical products and in other manufacture, repair and installations; by regions mainly in Bratislava.

In February compared with January, the balance of expected development of prices of industrial products, increased by 6 p.p. to 11. They expect an increase of prices mainly in manufacture of transport equipment, in the chemical industry and in manufacture of other non-metallic products. On the contrary, they assume a price decrease mainly in manufacture of computer, electronic and optical products and food.

In February compared with January, the balance of employment rose by 3 p.p. to 12. An increase in the number of employees is assumed mainly in other manufacture, repair and installations, electrical equipment and basic metal and fabricated metal products; by size groups in enterprises employing 500 to 999 people and by regions, in Banská Bystrica and Trnava. On the contrary, a decrease in the number of employees is expected mainly in manufacture of food. 72 % of employees assume a stabilization of employment.

The total data are seasonally adjusted and the data by sectors are not seasonally adjusted, therefore there may be a non-standard development compared to these indicators.

Note: In February 2022, 698 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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