|Unit||Bal. of Opinion, SA|
|Source||Statistical Office of the Slovak Republic|
|Consumer Confidence||Feb 2023||-33.3||-32.4||Bal. of Opinion, SA||Monthly|
|Retail Sales||Jan 2023||100.1||102.7||Vol. Index corr. per. prv. yr.=100, NSA||Monthly|
For Slovakia, the monthly Economic Sentiment Indicator (ESIN) is a composite of five confidence indicators: industrial, construction, retail trade, services and consumer. It is an EU harmonized indicator.
The source writes:
The economic sentiment indicator is composed of the industrial confidence indicator (40%), the construction confidence indicator (5%), the retail trade confidence indicator (5%), the services confidence indicator (30%) and the consumer confidence indicator (20%). All confidence indicators are balances.
Method of data collection by source is standardized interview using a questionaire. A basic sample is defined by the source to consists of 4,416,076 citizens of the SR area at the age of 16 or more years. The sample score is 1,200.
The economic sentiment indicator (ESI): is a composite indicator whose goal is to present the current state of expectations for all participants of economic environment. It consists of the aggregated data derived from the results of the Business Tendency Survey in industry, construction, trade, services and the results of the Consumer Confidence Survey on the current economic situation. The Survey is coordinated by the European Commission, using the same methodology for all EU member states.
Components: The confidence indicator in industry is the arithmetic average of the balances (%) of the questions on production expectations, order-books and stocks (the last with inverted sign).
The confidence indicator in construction is the average of the balances (%) for the questions on order-books and employment expectation.
The confidence indicator in retail trade is the arithmetic average of the balances (%) for the present and the future business situation, and for stocks - with inverted sign.
The confidence indicator in services is the arithmetic average ofthe balances (%) for the questions on order-books, present business situation and the future questions on order-books.
The consumer confidence indicator is the arithmetic average of the balances (%) of four questions: the financial situation of households, the general economic situation, unemployment expectations (with inverted sign) and savings, all over the next 12 months.
IES = a*ICI + b*BCI + c*RCI + d*SCI + e*CCI where ICI = The confidence indicator in industry, BCI = The confidence indicator in construction, RCI = The confidence indicator in retail trade, SCI = The confidence indicator in services, and CCI = The consumer confidence indicators. a,b,c,d,e = balances.
Confidence indicator in services has been included into the calculation of economic sentiment indicator under changed weight system since March 2007.
At the source: