In October, the confidence indicator in industry increased by 13 p.p. (percentage points-p.p.) to the value 4 (from seasonally adjusted data), thus reaching the level above the long-term average and the highest value since April 2018. The development of the indicator was the most significantly influenced by the expected increase of the production over the next three months.

Compared with the previous month, the industrial production trend rose by 2 p.p. to 39. An increase was registered mainly in manufacture of machinery and equipment n.e.c., other manufacture, repair and installations and in manufacture of transport equipment. The business balance of the aggregate orders increased by 3 p.p. to -22. An increase of orders was recorded mainly in manufacture of textiles and apparel and food. A decrease of orders was registered mainly by respondents in manufacture of wood and paper products. The current level of orders is considered sufficient by 71 % of respondents. The balance of foreign orders recorded and increase by 2 p.p. to -22. An increase  was registered in manufacture of other non-metallic products and the share of orders adequate to the season also rose in manufacture of textiles and apparel. On the contrary, there was a decrease in manufacture of wood and paper products. 68 % of foreign respondents consider them to be sufficient. In October compared with September, the balance of the finished goods stock decreased by 2 p.p. to 1. A decrease of the stock was stated mainly in manufacture of electrical equipment. On the contrary, the goods stock increased mainly in manufacture of textiles and apparel. The total goods stock is considered to be suffient by 95 % of respondents. In October compared with September, the balance of the expected production over the next three months, increased by 34 p.p. to 35. The greatest optimist were the respondents in manufacture of basic metal and fabricated metal products, transport equipment and in other manufacture, repair and installations; by size groups, in enterprises employing 1000 and more people and by regions, mainly in Košice and Bratislava. For the next three months period, the balance of the expected development of industrial products prices increased by 5 p.p. to 1. A price rise is assumed mainly in the chemical industry and in manufacture of computer, electronic and optical products. Prices will not change in manufacture of pharmaceutical products. The majority of enterprises (83 %), in the next three months period do not expect any changes in the price level of their own products. In the employment  development, the situation did not change compared with the previous month, when the balance remained at the same level (-13 p.p.). An increase in the number of employees is expected mainly in manufacture of machinery and equipment n.e.c; by size groups in enterprises employing 500 to 999 people and by regions, in Trnava and Košice. The situation will remain unchanged in the pharmaceutical industry. On the contrary, a decrease in the number of employees is assumed mainly in the chemical industry.

When evaluating the factors limiting the increase of the industrial production, 51 % of respondents reported an insufficient demand and 18 % shortage of employees, 16 % financial constraints and 10 % shortage of production facilities and raw materials. 22 % of respondents do not feel any limiting factors. Production capacity dropped by 2 p.p. to 22. The majority of respondents (69 %) consider their current production capacity to be sufficient. Based on orders, companies have reserved work for 5 months on average, while production is ensured mainly in manufacture of electrical equipment and machinery and equipment n.e.c. Industrial companies used production capacities to 80 %, on average. Over the last three months, according to the respondents´ forecasts, there was an upward demand for production, based on new orders, the total balance increased by 48 points, compared with the previous month. The highest increase was in manufacture of basic metal and fabricated metal products, transport equipment and textiles and apparel. The number of orders remained unchanged only in the pharmaceutical industry. Compared with the previous quarter, the balance of the expected export also rose by 4 points. An increase of foreign orders is expected by respondents mainly in manufacture of transport equipment and in the chemical industry. With an unchanged number of orders in manufacture of pharmaceutical products and basic metal and fabricated metal products. According to the survey results, the  position of enterprises in domestic competitive environment improved compared with the previous quarter, when the balance increased by 5 points to -7. On foreign markets inside the EU, the balance rose by 22 p.p. to 5 and on markets outside the EU, the balance increased by 18 points to 0.