Slovakia Business Morale Drops in January

Slovakia’s industrial confidence indicator dropped by 4 points month-on-month to -0.3 in January 2026, reversing from a 3.7 increase in the previous month. The employment outlook turned negative (-6 vs 2), while the assessment of current export orders dropped further (-18 vs -15). Expected production also became less optimistic (17 vs 29), particularly in food, beverages, and tobacco products (-17 vs 4) and chemicals and chemical products (-42 vs -11). Meanwhile, assessment on current level of orders became less pessimistic (-14 vs -18), as well as the current industrial production (-5 vs -15). In addition, selling price expectations turned positive (6 vs -1), and finished goods stocks improved to 4 from 0.

The industrial confidence indicator in Slovakia rose by 11.7 points to 3.7 in December 2025, rebounding from -8 in the previous month and marking the highest reading since December 2024. The improvement was mainly driven by a significant increase in expected production (29 vs -1 in November), particularly in enterprises engaged in the manufacture of coke and refined petroleum products, transport equipment, and the chemical industry. The current level of orders also declined less (-18 vs -25), most notably in the manufacture of chemicals and chemical products, basic pharmaceutical products and pharmaceutical preparations, and other non-metallic mineral products, along with the current level of export orders (-18 vs -23). Meanwhile, selling price expectations deteriorated (-1 vs 8), while the employment outlook also weakened (2 vs 4).

The industrial confidence indicator in Slovakia increased by 2.3 points month-on-month to -8 in November 2025 from -10.3 in the previous month. Sentiment improved regarding selling price expectations (8 vs 7), while expected production (-1 vs -10) became less pessimistic, particularly in the manufacture of coke and refined petroleum products. At the same time, the employment outlook strengthened (4 vs -3). In contrast, the current level of orders continued to decline (-25 vs -22), most notably in the manufacture of textiles, wearing apparel, and related products, and chemicals and chemical products.