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Industrial confidence indicator in October 2021
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Industrial confidence indicator in October 2021

Last update: 28.10.2021
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Business tendency surveys and consumer opinions
Publish Date: 28.10.2021



In October, the confidence indicator in industry decreased by 5,4 p.p. (percentage points- p.p.) to -4,7 (of seasonally adjusted data). The indicator´s development was influenced by all the three indicators, i.e. by the decrease of orders, the increase of the goods stock and by the decrease of the expected production.

Compared with the previous month, the industrial production trend dropped by 18 p.p. to -35 which is the lowest value since June 2020. A decrease was registered mainly in manufacture of electrical equipment, in other manufacture, repair and installations and food. The balance of the aggregate orders dropped by 4 p.p. to -4. Less orders were recorded mainly in manufacture of basic metal and fabricated metal products, machinery and equipment n.e.c and electrical equipment; by size groups in enterprises employing 500 to 999 people and by regions in Košice and Prešov. An increase of orders was stated mainly by respondents in manufacture of textiles and apparel and wood and paper products. The balance of foreign orders decreased by 4 p.p. to -1. A drop was registered in manufacture of machinery and equipment n.e.c. and basic metals and fabricated metal products. On the contrary, there was a growth mainly in the chemical industry. In October compared with September, the balance of the finished goods stock rose by 7 p.p. to 28, representing the highest value since January 1997. Increased goods stocks were reported mainly in manufacture of transport equipment and in other manufacture, repair and installations. On the contrary, lower goods stocks were mainly in the chemical industry and in manufacture of textiles and apparel. In October compared with September, the balance of expected prices of industrial products decreased by 5 p.p. to 18. The greatest pessimists were the respondents in manufacture of other non-metallic products, electrical equipment and machinery and equipment n.e.c; by size groups, in enterprises employing 1000 and more people and by regions mainly in Trenčín and Žilina. Over the next three months period, the balance of the expected production over the next three months increased by 10 p.p. to 21, compared with September. Higher prices are expected mainly in manufacture of computer, electronic and optical products, other non-metallic products and transport equipment. Prices will be lower mainly in the chemical industry. In the employment development, the situation remained unchanged, when the balance dropped by 10 p.p. to 1. Lower number of employees is assumed mainly in manufacture of electrical equipment and wood and paper products; by size groups in enterprises employing 1000 and more people and by regions,  in Trnava and Prešov. On the contrary, an increase in the number of employees is expected mainly in the chemical industry.

When evaluating the factors limiting the growth of industrial production, 34 % of respondents reported lack of production facilities and raw materials, 33 % an insufficient demand and 17 % financial constraints. 18 % of respondents do not feel any limiting factors. 

Production capacity rose by 1 p.p. to 11. The majority of respondents consider their current production capacity as sufficient. Based on orders, companies have reserved work for 5 months, on average, while production is ensured mostly in manufacture of electrical equipment and other non-metallic products. Industrial companies use production capacity to 82 %, on average. Over the last three months period, according to the response of respondents, the production demand on the basis of new orders, had an upward trend, the overall balance increased by 1 point, compared with the corresponding period. The greatest increase was in manufacture of computer, electronic and optical products, transport equipment and machinery and equipment n.e.c. Compared with the last quarter, the balance of the expected export dropped by 31 points. The decrease of foreign orders is expected by respondents mainly in manufacture of basic metal and fabricated metal products and transport equipment. According to the survey, the position of enterprises in the domestic competitive environment deteriorated compared to the previous quarter, when the balance dropped by 10 p.p. In foreign markets within the EU, the balance decreased by 2 p.p. b. to -1 and in non-EU markets the balance rose by 12 p.p.

The overall data are seasonally adjusted and the data by sectors are not seasonally adjusted, therefore it may result in an unusual development in the comparison of these indicators and of the situation in which we currently find ourselves.


 Note: *In October 2021, 725 respondents were participated in survey which represents the whole industry.
The values of the confidence indicator in industry and the balances range from -100 (responses of all respondents are pessimistic) to 100 (responses of all respondents are optimistic) however, the balance of the finished goods stock shall be interpreted in the opposite way. Confidence indicator and balances on republic level are seasonally adjusted.


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  • Slovak Republic
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