Stats: Economic Mood Didn't Significantly Change in April

Bratislava, April 29 (TASR) - Confidence in the Slovak economy remained almost unchanged from the previous month in April, with the Economic Sentiment Indicator (ESI) growing by a mere 0.1 points to 99.7, the Statistics Office reported on Tuesday. More positively-minded entrepreneurs engaged in industry and construction contributed to the slight increase in the indicator. Conversely, entrepreneurs engaged in trade and services, as well as consumers were more pessimistic about the economic situation. The overall figure is 6.8 points less optimistic than in the same period of last year, and it lags behind the long-term average by 6.3 points. After seasonal adjustments, the confidence indicator in industry increased by 2 points to -4.7 in April, mainly as a result of a drop in expected output in the upcoming three months, chiefly in the production of wooden and paper products, as well as in means of transport. The development of the indicator was influenced by a decrease in inventories of finished products and an increase in orders, chiefly in the production of wooden and paper products. The seasonally adjusted confidence indicator in services fell by 1 point to 8.3, with improvements being posted in demand in the past three months and in the business situation, mainly in the arts, entertainment and recreation. Meanwhile, the confidence indicator in trade declined by 3.3 points from March to stand at 11.7. The respondents evaluated negatively the decrease in expected demand for suppliers, as well as the lower number of staff. The confidence indicator in construction grew by 1.5 points to -7 in April under the influence of more optimistic evaluations concerning the overall level of orders, with three in four respondents viewing it sufficient. Slovak consumer confidence worsened again in April after the last month's growth. The indicator went down by 1.6 points from the previous month to stand at -22.7, lagging behind the long-term average by 2.8 points. Consumers were more pessimistic in two of the four components of the indicator. They were mainly concerned about the overall economic situation, as well as developments in unemployment, and the financial situation of their households. Conversely, consumers were more optimistic about the financial situation of their households, as well as about their household savings. ko/mcs