Economic sentiment in Slovakia, which has been battling with deflation since February, improved for the fourth month in a row to reach its highest peak in three years, the country’s stats office reported on Monday.
The economic sentiment gauge rose to 100.7 in June, compared to 99.0 in May, and marking its highest point since July 2011 when it stood at 102.2.
Most notably, the country’s services sector confidence hit 23.0 from 19.7 in the previous month.
Industry morale, meanwhile, deteriorated rather sharply, hitting its lowest level in almost a year to minus 3.7, after standing at 1.3 in May. The country’s construction sector also saw sentiment decline notably.
The consumer confidence indicator declined to minus 11.6 in June from minus 11.5 in May, while retail industry attitude was also on the decline.
Slovakia’s economy is driven mainly by car manufacturing, with it boasting the top spot as the world’s biggest car manufacturer calculated per capita, with Volkswagen, Kia and Peugeot-Citroen all based here.
By Katie Perkowski World Business Press Online