The overall economic mood of businesses and consumers in Slovakia improved in March, mainly due to more positive assessments in the industry and among consumers.
Month-on-month vs. year-on-year
The main indicator of economic sentiment in Slovakia rose by three points month-on-month in March to 90.4 points, almost returning to its January level. However, it fell by 5.3 points year-on-year and decreased 11.6 points behind its long-term average.
Confidence in industry, which has a considerable influence on the development of the Slovak economy, rose month-on-month by the most in a year. Consumer economic sentiment was again the best since last summer.
Poor assessment
In contrast, the assessment of entrepreneurs in retail and services was the worst in two years. In the construction sector, the sentiment was unchanged from February.
In the Czech Republic, confidence in the economy also rose month-on-month in March, up by 2.2 points to 93.9 points after a decline in February. This was due to an increase in business confidence. Consumer confidence, on the other hand, fell slightly.
Source: The Czech Press Office
