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Slovenia Business Week no. 27: Business Confidence Recovers in July

Optimism among consumers and positive outlook in the services sector enhanced business confidence in Slovenia over the past month, according to the national Statistics Office

Optimism among consumers and positive outlook in the services sector enhanced business confidence in Slovenia over the past month, according to the national Statistics Office.

The seasonally adjusted business sentiment indicator for July was 14 percentage points above the long-term average, while it was also 1 percentage point above June's figure and 4 points above that recorded in July 2006.

The indicator in the services sector was up 4 percentage points on June and 6 points above last year's figure.

The consumer confidence index was 2 percentage points higher than the month before, mainly owning to consumers' optimism about the state of economy in the coming 12 months.

In manufacturing, the confidence indicator was level compared to June's figure, but was 1 percentage point up year-on-year and 14 points above the long-term average.

At the monthly level, the sentiment indicator was also down in retail, i.e. by 2 percentage points, mainly due to lower sales expectations. Nevertheless, the indicator was still 16 points above the long-term average and 1 point above last year's figure.

The construction sector was less confident in July than in June, the indicator losing 2 points, while its outlook was still 11 percentage point above last year's figure, according to the report from the Statistics Office.

The business sentiment indicator is a weighted average of the confidence indicators in manufacturing, retail and the consumer confidence indicator, which are in turn calculated with the aid of surveys on business trends.

Source: Slovenian Press Agency STA

Author: STA, Slovenian National Press Agency