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Services confidence indicator in November 2021
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Services confidence indicator in November 2021

Last update: 29.11.2021
Ilustratívny obrázok/Illustrative image
Publisher: Headquarters Bratislava
Topic: Macroeconomic statistics
Domain: Business tendency surveys and consumer opinions
Publish Date: 29.11.2021



In November, the seasonally adjusted confidence indicator in services  increased, its value (15) rose by 3,7 percentage points (p.p.) compared with October. The indicator´s development was affected by more optimistic evaluations of all its three components.

Compared with the last month´s survey, the business situation over the past three months slightly improved, the business balance (of seasonally adjusted data) increased by 3 points and reached the level 8. An improvement of the business situation is felt by 21 % enterprises (by 2 p.p. more than in October), 14 % of respondents reported a deterioration (by 2 p.p. more), 65 % of enterprises (by 4 p.p. less) had a stable development. They were more satisfied mainly in transportion and storage, as well as in information and communication; a deterioration of the situation compared with October was registered mainly in the field of real estates and in administration and support service activities. Compared with the last month´s survey, the demand for the services over the past three months (9) increased by 7 points. A increase of the demand was felt mainly in transportation and storage and in professional, scientific and technical activities; a lower demand was recorded mainly in the field of real estates, in arts, entertainment and recreation, as well as in financial and insurance activities. The expected development of the demand for services over the next three months was also evaluated slightly positively by respondents, the seasonally adjusted business balance (28) increased by 1 point.  A higher demand is expected in financial and insurance activities; lower interest in their services is assumed by administration and support service activities. 42 % of enterprises increased the number of their employees over the past three months (by 1 p.p less than in October), 12 % of enterprises reported an increase (by 2 p.p. less), 46 % of enterprises had a stable development (by 3 p.p more). Compared with the previous month, the final seasonally adjusted balance (-32) dropped by 1 p.p. indicating only a slight deterioration in the employment situation. The number of employees decreased mainly in accommodation and food services, in arts, entertainment and recreation, also in other service activities; higher number of employees were mainly in transportation and storage and in the field of real estates. In the development of the employment over the next three months, an improvement of the situation is assumed, the business balance (6) increased by 2 points, compared with the previous month. A higher number of employees is assumed mainly in accommodation and food services, though a higher number of employees is planned also in transportation and storage and in the field of information and communication; lower number of employees is assumed mainly in arts, entertainment and recreation. Compared with the previous period, the business balance of the expected prices of services over the next three months (15) rose by 7 p.p. while a price rise is considered by 22 % of enterprises (by 10 p.p. more than in October), 2 % of enterpirses expect a decrease (by 2 p.p. less), 76 % of enterprises (by 8 p.p. less) assume a stable development.

Note: * In November 2021 553 respondents were participated in survey which represents the whole service sector. The values of the confidence indicator in services and the balances range from -100 (responses of all respondents are pessimistic) to 100 (responses of all respondents are optimistic). Confidence indicator and balances on republic level are seasonally adjusted.


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