The downward trend in economic sentiment stopped in November. Compared to October, the value of the economic climate indicator increased by 3.5 percentage points to -1.8 percentage points, the State Statistics Office announced.
The values of confidence indicators in service activities (by 1.5 percentage points), in manufacturing activities (by 1.4 percentage points), among consumers (by 0.3 percentage points), contributed positively to the monthly increase in the value of the mood indicator in the economy. in retail trade (by 0.2 percentage points) and in construction (by 0.2 percentage points).
On a year-on-year basis, the indicator fell again, mainly due to the negative impact of confidence indicators in manufacturing (by 4.5 percentage points) and among consumers (by 2.0 percentage points). The change in value was positively influenced by confidence indicators in service activities (by 1.1 percentage points), retail trade (by 0.6 percentage points) and construction (by 0.1 percentage points).
The value of the confidence indicator in manufacturing activities increased by four percentage points on a monthly basis in November, but compared to the previous November and the long-term average, it was lower by 12 or. five percentage points.
The monthly improvement was influenced by the indicators expected production and total orders; the value of the former increased by six percentage points, and the value of the latter by five percentage points. On the other hand, the inventory indicator worsened by a percentage point.
The value of the confidence indicator in retail trade increased by three percentage points on a monthly basis, and by 11 percentage points on an annual basis, after three consecutive months of decline. It was five percentage points higher than the long-term average.
The increase was mainly influenced by the improvement of the expected sales and sales indicators – they increased by 12 and eight percentage points.
More construction orders
The confidence indicator in the construction industry grew in November compared to all three periods under consideration: it was four percentage points higher than the value in October, two percentage points higher than the value a year ago and 33 percentage points higher than the long-term average.
The increase in the confidence indicator in this industry was influenced by the total orders indicator (increase by nine percentage points), while the expected employment indicator decreased (by one percentage point).
In service activities, this month, after two consecutive months of decline, the value of the confidence indicator increased by five percentage points on a monthly basis, and by three percentage points on an annual basis. It was nine percentage points higher than the long-term average.
The improvement of the confidence indicator was influenced by all three components: demand (increase by six percentage points), expected demand and business situation (by five and four percentage points).