In September, the economic sentiment in Slovakia was slightly more optimistic than last month. The seasonally adjusted economic sentiment indicator (ESI) rose by 0,9 points to 100,1 and it slightly exceeds the level immediately before the onset of the coronavirus pandemic.

Confidence increased significantly in construction, slightly in industry and marginally in services. By contrast, it decreased slightly in trade and among consumers. The current value of ESI is significantly more optimistic than in the corresponding period last year after its deep slump caused by anti-epidemic measures (by 12,6 points) and remains slightly below the long-term average (by 2,4 points).

In September, the confidence indicator in industry increased by 1,7 percentage points (p.p.) to 0,7 after seasonal adjustment. The indicator´s development was influenced mainly by the expected increase of the production in the next three months. In September, the seasonally adjusted confidence indicator in construction rose by 7,5 points to -13,5 compared to the previous month, due to more favorable evaluations of the overall level of orders and the expected employment. The current result is above the long-term average by 10,5 points. In September 2021, confidence indicator in trade changed only very slightly and decreased to the level 25,7 (drop by 1,6 p.p.). Respondents consider the current situation as favourable due to the expected stricter measures related to the forthcoming wave of the pandemic they are still cautious in assessing the future development. In September, the seasonally adjusted confidence indicator in services slightly increased again, its value (13,7) rose by 0,7 p.p.) compared with August. The indicator´s development was affected by more optimistic evaluations of the demand over the past three months, as well as the expected demand, while the business situation was evaluated more negatively by the respondents.

At the beginning of September, the consumer mood in Slovakia was slightly more pessimistic than in the previous month. The seasonally adjusted indicator of consumer confidence, decreased by 1,4 points to -20,2, month-on-month. The indicator has thus approached its long-term average for the fifth month in a row.

Compared to the previous month, respondents were more optimistic only in their savings expectations. They were more pessimistic, especially in expectations of the financial situation of households and the overall economic situation, in the expectations of the development of unemployment they were only slightly more pessimistic.

Compared to the situation a year ago, after a deep slump of the indicator due to the implementation of anti-epidemic measures, the respondents were significantly more optimistic (by 10,8 points) and the current result returned slightly below the long-term average (by 0,7 points).